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A good year a
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II
round
The latest figures to be published by the Society of Motor Manufacturers and Traders are confirmation that all sectors of the UK used CV market perfomed well last year.
Transactions for commercial vehicles last year rose 8.5%, continuing the upward trend in the used market.
According to the SMMT, 2004 saw 911,090 units change hands with February and March yielding 168,921 vehicles, making that twomonth period the busiest.
Last year's new registrations accounted for 385,911 units maintaining a five-to-two ratio in favour of second-hand CVs.
In the light commercial vehicle section (up to 3.5 tonnes) there was a rise of 8.7% in used vehicle transactions. More than 827,030 V5 forms changed hands, up 66,361 on 2003.The busiest quarter proved to be the first where 221,531 CVs were traded.
This number dropped gradually until the slowest quarter the fourthrecorded just 185,140 units traded.
The truck market (3.6 tonnes and upwards) saw a slower increase of 6.9% during 2004 with 83,232 units traded an increase of 5,368 vehicles on 2003.The first three quarters saw more than 21,000 vehicles doing business, which dropped to just over 19,000 in the final quarter.
Part of the reason for the increase in numbers is the revised V5 documentation rules which mean no vehicle is traded without one.The DVLA now has a much clearer idea of what is out there and who owns it.
In terms of comparisons the overall trends here picture a strong start to 2004, somethingthat was reported by dealers and auctioneffs. It appeals business slowed down after September but. considering everyone was reporting record highs, it is hardly surprising.
Many sales people have attributed the slowdown to 111111111111.11.L.— economic stability with higher prices per vehicle more likely to generate extra income than selling more vehicles.
Despite so many different ways to finance second-hand vehicles, more available credit and increased manufacturer participation,physical turnover of vehicles has steadied. with residuals continuing to hold firm and supply just matching the demand for quality vehicles.
One sector that did support last year's rise in vehicles is the expanding export sector, which with increasing overseas legislation, is seeking ever better specifications to ship.
Industry comments Bathe Travis, CAP
"There is a slowdown at the moment because of the general election, and the fact it's a short process, and the rising price of fuel.There isn't, at the moment, a rise in residuals but there is always a small pocket where it is dropping.At the moment the price on Daf 95XT 2000 and backwards is falling."
Chris Hart, used salesperson at Mercedes-Benz franchise Ciceley Commercials "There is a lack of stock at the moment and part of that is down to delivery times on heavies. There are more people buying from Barnsley [Approved Used Vehicle site for M-B] which is diluting the number of vehicles to dealers. Residuals don't seem to be as strong; people are a little slower on the uptake,and it's got to be because of the lack of supply of new vehicles."
Charlie Wright, Commercial Vehicle Auctions "We have sold more this year than we did last year. You'd have to analyse month on month, and most vehicles have peaks and troughs which will affect the sales figures, but overall we are performing strongly. We have noticed a real difference on price with the facelifted models coming on the market, Daf CF85s and Volvo FH12s especially [against Daf 85CFs and previous generation Volvos]."
Bruce Allison, director of used vehicles at Renault Trucks "We enjoyed a record year last year, but with a finite number of vehicles we aren't going to make that number this year. But with the targets we set for the first three months we are up 10%. If anything we have a shortage of 7.5-tonners at the moment because customers are not giving them back .There is no change in residuals if anything the Magnum is slightly up." •