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CV prices set to stabilise in the next three months
Page 12
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By Jutian Manes THE DISPARITY between used and new vehicle prices, which has seen some new models sold cheaper than used CVs, should only be short term, industry experts predict.
However, UK buyers seem reluctant to buy new vehicles, despite heavy discounting by manufacturers Robin Dickeson, Society of Motor Manufacturers and Traders (SMMT) commercial vehicle spokesperson, says buyers are holding out to see if prices continue to fall. He believes there may be a surge when prices begin to rise again as buyers try to grab a bargain before it is too late.
"Considering the current euro exchange rate, which has added a third in costs for manufacturers selling in this country. it is only a matter of time before prices rise, and it will most likely be sooner rather than later,he says.
"And when the first signs are evident those who have been shopping around may react to avoid missing the boar Glass's Guide CV editor George Alexander believes there is a "certain mentality" among UK buyers where some consider purchasing a new vehicle as an extra commitment.
He adds: "This isn't helped by the doom and gloom in the media about the financial climate that puts extra pressure on people to cut costs, even though a new vehicle could work out cheaper."
Alexander points to the fact that there are greater numbers attending auctions, some of which are seeing up to 97% conversion rates.
It is expected that new vehicle prices will rise in the next three months as the current spate of discounting allows manufacturers to clear existing stock.
Alexander says: "Firms are clearing the decks and will soon be able to match supply with demand, helping prices to stablise Earlier this month, Glass's warned that a lack of new light CV registrations was boosting demand for used vans ('Hunger for used vans is pushing prices up', CM 9 April).