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Used van values stabilise after a year of steady gains

25th November 2010
Page 49
Page 49, 25th November 2010 — Used van values stabilise after a year of steady gains
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but market values and sales are still up on last year Fluctuating prices in the used van sector are beginning to stabilise, according to auction group Manheim Remarketing. Analysis of the van sector shows that the average wholesale used van values for October fell by 0.8%, or just £34. This small decline follows the 3.2% increase seen in September, with an average rise of £127 to the value of a van.

According to Manheim, the stability now being displayed in the market is due to two key factors working together to cool the price rises: average vehicle age has increased by one month to 52 months, and average mileage has risen sharply up by 4,506 miles to 75,065 miles.

Despite the market appearing to be stagnant, values are actually 14% higher than in the same period last year, adding an average of £502 to the cost of a used van.

James Davis, commercial vehicles general manager for Manheim, says: "Commercial vehicles are the lifeblood of many UK businesses, and in tougher economic times a used van offers better value and a lower financial outlay for an SME operator than a new van. With used van values £500 or 14% higher than the same month in 2009, there is clear evidence that underlying retail demand has kept pace with supply. In October, we sold 19% more vans year-on-year and in September that figure was 23%."

Values across a number of van variants fell throughout October, contributing to the slight decline, with large panel vans under 3.0 tonnes and 4x4s down the most at 3.3% and 4% respectively. Small panel van average values fell by 2.5% to £4,318, a drop of £112, and car-derived vans dropped 1.2% or £31. However, tippers saw a large increase, recording a 16,1% rise to £5,948.

Manheim Auctions at Haydock

Manheim Auctions in Haydock has sold its 1,000th van this year using its online Simulcast bidding service. The Vauxhall Combo, bought by Winston Thornhill of Stanborough Motors, was part of a selection of vehicles being auctioned on behalf of Hitachi Capital at Manheim's regular Tuesday van auction.

To date, 18% of vans going under the hammer at the Haydock auction are sold using the Simulcast software, which allows registered bidders to buy without being in the auction halls. Speaking about the online bidding system, Thornhill says: "It couldn't be easier to buy vans via Simulcast as it gives me access to all the best stock without having to leave my desk."

Manheim operates 19 auction centres in the UK, with seven sites dedicated to commercial vehicles. In addition to three online sales channels. it also operates a trade-only sales channel for direct buying.


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