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Not like last year's party
Page 96
Page 97
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The UK used van market has started the year well but lacks the vigour of previous years. Duncan Ward of British Car Auction's UK has been reviewing the situation.
Agood January has been followed by a strong February, with lots of interest from the trade. Attendances have been strong around BCA's nationwide network. with some exceptional prices recorded at Preston, Newport, Derby,Blackbushe,Glasgow, Belle Vue and Measham.
The new market is rampant, with the SMMT predicting another record year.'The question for fleet van operators is, will this affect the used market?
Looking back to last year, demand for new vehicles did not impact negatively on used. The start to 2005 ,while it has been good, has not had the real kick we have seen in previous years. Demand is a little patchy and astute operators will be prepared to react to changing trends in the market.
The market has become noticeably more mileage sensitive in recent weeks and the price guides have not picked this up as yet. It works both ways: lower mileage is generally outperforming book by hundreds of pounds, while higher mileage can under-perform by a similar amount.This leads to large price discrepancies on ostensibly similar stock and has left some fleet managers scratching their heads and wondering why!
In a similar vein, some sectors are performing better than others. The sub-£4,000 van is a highly sought after commodity with plenty of demand and lots of competition for the best examples. Get into a higher price band at around £7,000 and demand becomes much more variable. sized van remains desirable with a real shortage of Peugeot 206s and plenty of demand keeping prices firm for Astras, Berlingos,Partners and Kangoos.The 'new' Combo is readily available, but limited in terms of specification and colour while the 'old' Combo is now rare at auction and clean examples can attract strong bidding.
Ford's Escort is starting to look a little dated but represents good value for money at the moment.
Scarce models The Ford Transit Connect is slowly becoming more common. but numbers are still relatively small in the marketplace. Demand is keeping prices higher than its volume competitors as a result, but specification and power are critical factors. There are few long-wheel-base examples about and these can command exceptional prices at auction.
Pickups remain a rare commodity and desirable in either 4x2 or 4x4 configuration, with buyers actively seeking Caddys, Hiluxes, Skodas, Bravas, Rangers and Tatas. However, they become less desirable in poor condition or non-standard colours.The crew-cab market is specification-sensitive, but remains strong.
The Land Rover is a perennial favourite with buyers — short-wheelbase Defenders and 12-seat Station wagons are much sought after. Demand is a little cooler for the Defender LWB hardtop, Discovery and Freelander, or for anything that looks like it's had a hard working life off-road.
Turning to panel vans the Expert, Dispatch and Scudo are performing well but are engine and mileage Sensitive. When it comes to power, the more the better, particularly where these vans have a second life in the courier and delivery business.
Perennial favourites
The old Transit continues to be a big favourite with buyers.The new Transit — now five years old, of course — is selling strongly,providing examples are clean, straight and not too well travelled. Sprinters and LTs are in short supply and selling well. Price is a big factor for the SWB van and the sub-£4,000 market is buoyant.
Buyers looking for medium and longwheelbase vans are faced with plenty of highmileage examples in poor condition,with lots of Transits and Sprinters in the mix.The few clean, low-mileage examples that appear at sales are fiercely contested for, as are rarer models such as Master and Movano.
There is still strong demand for Lutons, boosted by relatively short supply. and this is likely to continue.Tippers and dropsides are particularly price sensitive, with plenty of demand in the sub-£5,000 sector. What buyers want the most is a van with a good pedigree, a sensible mileage and a complete set of documents including the full service history,V5 and MoT. Condition remains critical as buyers are reluctant if vans are tatty or poorly presented.
A number of vendors have enjoyed great success with using BCA's Smart Prepared services to get their vehicles in the best possible condition.Time was when a company van was lucky to see a mop and bucket at remarketing time; now sellers are prepared to invest in machine operated polishes and Smart Repairs to help their vehicles achieve the optimum price. •