Stock shortage continues to push up prices
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Used van prices continue to rise, driven by a lack of stock.
Manheim Auctions saw average March prices rise 5.6% to £4,237, a 14.7% increase since the turn of the year.
James Davis, general manager commercial vehicles, says there seems to be no end to the continued increase in wholesale values and certainly no evidence yet of the traditional seasonal softening of the market.
"Demand remains very strong while the relative lack of supply continues to affect values," he says. "The imminent general election may create some market uncer tainty during April, but the overall upward trend in values looks likely to continue in the medium term."
The average fleet/lease value at British Car Auctions rose £19 to reach a record £5,126. Overall values at BCA fell £85 to £4,500, the second highest average value on record. Duncan Ward, auctioneer and UK business manager for CVs, says new values increased by £371 to £10,036, a rise of 3.8%, despite volumes being low in the month. "The used LCV market has seen an exceptionally strong start to 2010," he says. -Values are significantly ahead of those recorded in 2009, and if demand stays at current levels we would expect prices to remain firm going forward."