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A pick-me-up for the pickup market
Page 51
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After bottoming out last year, the residual values of pickups have recovered, and operators are starting to bid strongly at auction.
Words: Kevin Swallow
RESIDUAL VALUES FOR pickups have enjoyed a strong recovery throughout 2009, after hitting rock bottom last year.
Before the recession, values for pickups were on the end of a 12-month downward spiral. British Car Auctions UK CV business development manager Duncan Ward says: "The prices dropped in 2008 to a level where they looked awfully cheap."
However, several examples going under the hammer at BCA's Measham site 125 August 2009] attracted some heavy bidding and one 2009-registered pickup made more than £15,000 on a provisional bid.
"I have been very surprised at how strongly they have come back," says Ward. "They have come back higher than many other sectors. The Ford Ranger was a very difficult vehicle last year, now prices have rocketed. In the pickup market, the 4x4 single cab is very strong., that is down to its rarity value. Any two-door and you get a lot of interest."
The most stable market in used vans is the sub-£2,000 sector. At the end of 2008, it held its own, unlike more expensive vans.
But during 2009, it has enjoyed a bounce, and Ward believes it has expanded. "A year ago, we called it the sub-£2,000 market— it's now the £2,500-£3,000 market." •