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Used van prices still rising
Page 52
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The used van market continued to hold firm at Manheim's weekly Lombard sale in Haydock, with Volkswagen Transporters and pickups starring.
Words; Kevin Swallow Manheim Auctions' weekly Lombard sale at its Haydock site offered further pointers that used prices for vans are still on the up and up.
As publicised in CM in recent months, used van prices at Manheim have been rising gradually. In March 2009 prices rose 3.6%; through April they increased by 8.7%; and May saw a 1.8% rise to £3,125.
Alex Wright, sales director for commercial vehicles at Manheim, says the increase in average values by 1.8% in May confirms the continued strength of the recovery in wholesale used van prices at a time when prices would be expected to fall in line with seasonal norms.
Last week's sale was further proof the market is • (Top) One of Manhelm's hardening.From 250 vehicles, it delivered a 84% conversion auction sites in action. rate, generating £790,000, with Lombard prices achieving (Above) Manheim's 103% against average values from price monitor CAP. Alex Wright comfirmed One dealer voiced regret at not buying more vehicles that used van prices when the prices had slumped back in January, but he did are holding firm concede that there was no way of knowing how the market was going to respond.
Another explained — in between bids — that demand is now starting to thin out some sales across the country. He says: "Vendors are getting to the stage where they simply haven't got vans to shift. With new prices as low as they are, surely it would make sense to cash in contracts early and realise their vans' residual potential. While new sales still continue to suffer, and manufacturers slow down production lines, demand for used vans is only going to get stronger," he said.
At the sale, buyers bid strongly on every Volkswagen Transporter T5 panel van that came through. The first set the pace — an 08-plate T28 went for £6,700, and the second, another 08-plate T30 with the 104hp engine, went for £8,850.
Pickup appeat
A small number of ex-British Gas 2.0-litre Citroen Berlingos on 54 and 05 plates hovered around £2,100 when they went under the hammer, but it was noticeable that Ford Connects on similar plates went for around £800 to £1,000 more. On the other hand, a 2005-registered 2.8-tonne LDV Maxus made a provisional £1,700— the only van in the first 80 lots not to make a definite sale.
An array of pickups also made good money, with bidders going for the 08-plate 2.5-litre Mitsubishi L200 Warrior double-cab complete with lifestyle spec — the first to break five figures. A second identical Warrior followed suit, but that was topped by a 2007-plate Nissan Navara Aventura, 2.5-litre with lifestyle enhancements, making £10,450.
A selection of double-cab tippers with 2003 registrations made some steady money, going for more than £2,000 in most cases, while a 2005-registered Ford Transit doublecab went for £3,900.