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Used van surge set to continue
Page 71
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The boom in used van sales in the first half of this year isn't slowing much, according to the
latest SMMT figures. Kevin Swallow reports.
Sales of used vans for 2003 look set to increase by 12°/0, according to figures published by the Society of Motor Manufacturers and Traders. But if the first six months of this year are anything to go by, that increase in sales could be closer to 36%.
Last year 702,655 used vans changed hands. For the first half of this year 393,942 units have been bought in the marketplace, compared with just 290,247 for same period in 2002.
The steady increase (655,699 units were sold in 2001) has meant a buoyant marketplace for dealers and private sellers alike, as more companies increasingly source their new vehicles from fleet. With most volume purchases via lease and contract hire deals done through manufacturers and finance houses, shelf life for the fleet van through its first owner tends to be shorter and more controlled,with repair and maintenance thrown in.This suggests the backers are more than keen to look after their products and investments to maintain residuals.
Fleet van deals are typically between three and six years, with large numbers of deals being staggered so they don't flood the marketplace.
Outright owners are likely to be more conservative and keep their vehicles longer before selling on a more individual basis.
Last year, vehicles over 10 years old changed hands the most — a trend that's set to continue this year. But the real predicted growth comes in four to six-year-old vehicles, set to jump 15 %, and the seven to 10-year-old units, rising 19%.