Used van values fall
At BCA the average price of a van going under the hammer in March 2012, compared to February 2012, fell £45 to £4,277 while Manheim Remarketing reported a £73 drop to £4,136.
The underlying trend from BCA’s figures show that average values fell for the dealer part-exchange and nearly-new vans, but rose in the fleet/lease sector. Duncan Ward, BCA’s general manager – CVs says fleet/lease values underline the desirability of one-owner professionally managed vans in the used marketplace.
“The fleet/lease sector has seen generally higher values since September last year and there is little sign of demand easing for good quality light-CVs. However, looking ahead, we expect volumes to rise in the short-term as corporate de-fleets filter through and this must have an effect in a supply and demand marketplace.
Manheim Remarketing data shows that only the large panel vans over 3.0-tonnes rose during March. James Davis, director of CVs, says year-on-year average selling price for large panel vans over 3.0-tonnes increased nearly 10% since March 2011 despite stock being eight months older with nearly 10,000 more miles.
“While percentages sometimes lack scale, that near 10% increase to £4,493 equates to £385. With over 60% of new van registrations sitting in this segment, used van values can be very significant,” he says.
Over the course of 12 months small panel vans have held up well with average selling price up £37 to £4,072. “Ever popular with small-and-medium-enterprises as a used purchase, these vans are 11 months older year-on-year, with 7,400 more miles. A much smaller increase but when you consider the age and mileage I would argue even more significant than its large panel van cousin,” he adds.
Both admit the summer could cause problems as quieter seasonal periods historically place pressure on conversions and values.