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Eastern boom hits prices
Page 69
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Will an increased demand from Asia for iron, steel and rub ber force up the prices of second-hand trucks in the UK? Our trade man on the inside thinks so.
Residuals in the used commercial vehicle market could well rise as manufacturers struggle to source raw materials for new products which is increasing lead times.
Demand for second-hand vehicles in 2005 has not abated from last year's strong performance. This coupled with manufacturers across Europe having to compete with burgeoning economies in India, Asia and China for raw materials like iron, steel and rubber could force up the standing price of a new truck for the first time in many years.
Many operators are turning to the used market with traditional suppliers of second-hand trucks keeping their vehicles longer or asking for higher prices. Consequently if they need another vehicle for their fleets they turn to the used market as well to satisfy their needs more quickly.
The summer may bring the usual drop in business at dealers and auctions alike, but the trade and export sectors are now facing increased competition from retail buyers, forcing up prices on vehicles in demand.
The vehicles most affected by this are the less traditional products: tippers of all sizes, big cabs and engines on 4x2 tractors, multi-axle rigids with mounted cranes, and specialist trailers. et