Trouble ahead for the light CV market
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THERE COULD be trouble ahead for the light CV market, as more vans enter the market just as sales of used vans remain relatively slow.
Average values for light CVs sold by British Car Auctions (BCA) through March rose by £34 compared with February, while the overall volume of vehicles went up 16%. BCA general manager of CVs Duncan Ward says taken in the context of the rising volumes hitting the marketplace, price performance remains acceptable: “The concealed factor of sale conversion is making life more dificult than it would otherwise appear for volume sellers. While conversions were around the 85%-90% level in January, the igures are now closer to 70%-75% on average.”
He adds that there has been no improvement in small business conidence, as costs continue to rise across all areas of activity and retail activity for used vans is relatively slow. “All these factors combined mean that professional buyer conidence is relatively fragile.” ■