Reality check for used van prices
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Used van dealers are beginning to turn their collective nose up at older stock
Words: Kevin Swallow
OLDER, HIGHER mileage used vans are being ignored by the used van trade, say auctioneers British Car Auctions (BCA) and Manheim Remarketing.
Duncan Ward, BCA’s general manager – CVs, says June brought a much needed reality check. Vendors had expected dealers to continue to pay ever greater prices for older, higher mileage vans because of poor stock levels.
“Buyer conidence in the wholesale market is quite fragile and there is an increasing reluctance to buy poorer condition or excessively travelled vans because of the investment required to get these vehicles ready for retail,” he says. “Competition for stock has forced prices up, while the retail customer – the small business or sole trader – wants even more van for their money when they walk onto a forecourt.”
James Davis, Manheim’s director of CVs, says poor quality stock in high volume is likely to sit around for longer as traders focus on cash low in quieter times. ■