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Used van market starts to stabilise
Page 51
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THE CONTINUED fall in van prices at auction has slowed, says British Car Auctions, with a 0,75% drop in September.
Average prices dropped by £24 to £3,190, compared to falls of more than £200 in previous months, while values for nearlynew and part-exchange stock rose.
However, part-exchange vans were up 2%, nearly-new sector prices up 2.9% — a rise for the second month in a row Duncan Ward, UK business development manager for commercial vehicles, believes it would be misleading to suggest the market "came back with a vengeance in September, [but] there was an upturn in activity in the auction halls and a fragile confidence returned to the marketplace".
"Buyers were out in bigger numbers and there was plenty of interest for clean, straight CVs that were ready to go straight back to work. As a result, van values tended to stabilise and overall there was little price movement between August and September," he says.
It is too early to suggest values have bottomed out, he adds. "We are expecting greater volumes of stock in 04 and that may impact on price points. Even with the half-point base rate cut, until businesses feel confident to buy vans again, any upturn in the used LCV market will be on hold." E