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Diminishing quality drags prices down
Page 51
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British Car Auctions blames poor quality vans for prices falling on fleet and lease vans to their lowest point this year.
THE VOLUME OF van stock rolling into the halls has not diminished, reports British Car Auctions (BCA), but quality has.
Figures released from its Pulse report reveal fleet and lease vans averaged 3,979 in May, dipping below £4,000 for the first time this year, from £4.126 in April. Average part-exchange values fell £200 to £2,064, and the price of nearly-new vans fell to £10,108, a drop of £87 against April.
By Kevin Swallow Duncan Ward, UK business development manager for commercial vehicles, points the finger at poor vehicle quality. "We reported the market slowing in April and this has continued in May. But there continues to be healthy supply of stock in the market.
"Unfortunately, many of these vans are in poor condition, low specification and unpopular colours, and in the current market they are very price-sensitive," he says.
A two-tier market for price and demand is appearing. "Buyers want fresh stock and realistically valued vans are selling well, with sales converting in excess of 70% ," he says. "Re-entered vehicles are struggling to get the buyer's attention.
"It is important vendors are realistic about the current broad economic conditions in the UK," he concludes. •