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Small operato under pressur
Page 68
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Ifs the smaller set-ups that have suffered at the hands of interest hikes this year, delaying purchases, says British Car Auctions' Duncan Ward
There's little doubt the fifth interest rate hike since August last year has hit the 'man and a van' sector relatively hard. Small business operators, who probably have a business loan and a mortgage to pay, are less likely to come into the market now than — for example — a year ago. ideas of buying a 'new' used van are likely to be put to one side, possibly until the autumn.
But there is still plenty of buying power about, with much of it concentrated in the lateyear, low-mileage sector. There is a shortage of nearly new, manufacturer-sourced vehicles and dealers and approved buyers are competing strongly for the few examples out there.
Above guide prices
Similarly, any late-plate stock that surfaces in fleet and lease sales is being eagerly snapped up at well above guide prices. For example, a recent Lex sale offered a lateplate, short-wheelbase Vivaro that had covered only a few thousand miles. It sold for more than £10,000, comparable to the price. of an entry-level new van.
The few 'new' models we are seeing at auction —Transit, Sprinter, Crafter — are making storming money. Only now are prices for Transit Connect models beginning to ease as bigger volumes from corporate fleets come into the market. It's certainly been a long honeymoon for the model and well-specced examples remain highly desirable.
The luxury double-cab market remains strong; even while volumes and availability are rising there is massive demand for clean, tidy, well-specced 'retail examples'. Even the 4Work, the basic commercial model, will make up to DOM more if it's in a retail colour such as silver rather than white.
As double cabs are plentiful so all of a sudden single cabs are in demand for rarity value — we have seen clean examples sell for more than the book value for the double-cab model.
Buyers continue to bid strongly for car-sized vans, provided they have a side loading door.This has changed from a 'nice to have' feature to a 'must have' in recent months.
Air-con is going to increase in importance as driver comfort is also a health and safety issue. And if you have air-con,you need a bulkhead.
Although the summer is generally a bit quiet,strong supplies are still available so there could be some price pressure on vehicles in average or poor condition — this won't affect the clean, late-year market however, which is likely to remain strong all year. N