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Throw your CAPs in the air!
Page 68
Page 69
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British Car Auctions reports
exceptional demand this autumn, leading to record sales figures in the van and truck sectors.
With the SMMT recording significant and sustained growth in new CV registrations throughout 2004 you might expect the used market to come under pressure. In fact it's humming with demand and prices for well-presented vehicles in good condition can be exceptional, writes Duncan Ward,B CA's business development manager for commercial vehicles.
Buyers are clearly not turning to new instead of used, but at the same time the high volume of used vans being sold has not affected the new market. Both markets are enjoying a buoyant time thanks to the healthy and stable economic conditions in the UK.
An active programme of redevelopment and new house building,particularly in the south and east, is helping to fuel demand for CVs.
Low interest rates are also helping small businesses — traditionally a sector that has supported the light CV market.
Vans
We 're all familiar with the term "late year, low mileage", but now late year,high mileage vans are starting to appear in the used market in greater numbers. With new registration volumes rising,it is clear that some owners are quite happy to buy them new, work them hard and sell them young.
The result is vehicles around a year to 18 months old that have probably been worked 24/7 on a shift pattern. It's not unusual to see vehicles cram three or five years' average mileage into just a few months.
With a lack of low-mileage, late-registered product, buyers have no choice but to buy higher mileage examples.
Of course,the clean and straight examples find homes easily, but condition is critical. Endusers are starting to switch on to these highmileage, nearly new vans because they can be. great value for money. the latest specification and sport a recent registration plate.
Professional buyers continue to be drawn to anything unusual or rare.Tippers,eranes and roadside recovery vehicles have been much sought after all year, while seasonal demand has pushed up the value of fridge vans in recent weeks. Buyers all seem to want panel vans in an unusual colour or with a high specification.We believe this demand is being driven by our online Commercial Auction View service that is helping buyers to identify and locate these vehicles.
The three-year-old contract hire market is as active as ever. with 90%-plus conversion rates common and some sales hitting 100%.
Professional buyers like to see a single company name in the book with a full service history; the less-frequent end-user buyer may well gravitate towards the brand name he knows and trusts.
While demand is uniformly good through BCA's network for contract-hire vans, there is a real hotspot at our Glasgow centre, where the new light CV sale section has quickly built a loyal buyer-base. Prices and conversion rates have matched and often exceeded the rest of the country.
Trucks
A real shortage of stock in the heavy market means there is interest in virtually every vehicle being offered. In particular, clean and straight late-plate vehicles will make very strong money indeed.
Mid-weight rigids such as Daf 55 210 boxvans are making up to twice what the market might sensibly expect;Iive-year-old examples recently sold at Belle Vue made up to £10,000. ERF Olympic-cab tractor units are also in strong demand and making exceptional money, with stock from finance and contract hire sources attracting a lot of attention. •