PRICES RISE ALONG WITH AGE AND MILEAGE
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Declining new sales comes as prices for used vans continue to rise, despite higher mileage and age, according to Manheim Remarketing director of CVs James Davis.
Compared with February 2011 average values rose 4.6% year-on-year (£186 to £4,209) in spite of average age being up seven months and mileage up 5,721 miles.
Car-derived-vans, small, medium and large panel vans, as well as 4x4s, all saw increases. Davis says it is the segment data that requires close scrutiny in order to understand what is driving the wholesale van market.
“Our buyers are generally reporting mixed fortunes with regard to retail demand, but attendances in the halls and online are at record levels.
“The small panel van segment has always been a great barometer of the health of the UK SME sector. We have seen the average selling price rise year-on-year by 14% despite [the average van] being five months older with 3,300 more miles.
“However, the differences between vans sold to a hall bidder and those sold online are interesting.
“While age and mileage have increased for both, it is less pronounced for stock sold on line. The year-on-year increase in the average selling price for vans sold to physical buyers was £88. These vans were seven months older with just over 6,000 more miles.
“It’s a different story altogether with vans sold online,” he says.
“Here average selling price has increased £560 year-on-year despite age increasing by three months and mileage by 4,600. Vans sold online are clearly the younger, lower-mileage examples being fought over by all buyers.” In February 2012 average wholesale used van values increased by 3.7% (£150 to £4,209) compared with January 2012.