Wholesale used van values increase 3.8% in April
14 May 2012
Manheim's latest monthly Market Analysis for Vans reveals that average wholesale used van values increased by 3.8% (£159 to £4,295) in April. Overall average age remained at 60 months and average mileage was down 2,057 miles to 80,422. When compared with April 2011, average values were 11.5% (£443) higher, average age was seven months higher and mileage was up 5,327.
Average values for Car Derived Vans remained static at £2,768 while values in most of the remaining volume vehicle segments all increased during April. Small Panel Vans rose 2.1% (£85 to £4,157), Large Panel Vans <3.0t were up 3.4% (£136 to £4,160) and Large Panel Vans >3.0t were up just 0.4% (£19 to £4,512). Meanwhile 4x4 values fell 2.1% (£159 to £7,473).
James Davis, Director of Commercial Vehicles, Manheim Remarketing said: "Year on year February and March saw sold volumes fall by a third in each month. That said, in Q1 2011 the volumes of used vans resulting from consolidation in the daily rental sector made a significant impact. There is little doubt trade buyer activity in April was driven by overall shortages of wholesale volumes, days in stock reductions reflecting this increased demand. The large panel van over 3t segment is stable in terms of price and this is both the workhorse and largest volume sector in the marketplace. With the continuing effects of seasonality, which will be extended due to bank holidays, sporting and royal events, damaged and duplicate vehicles will require specific focus to ensure maximum returns are achieved".
Tim Spencer, Group Commercial Vehicle Auctioneer. Manheim Auctions added: "As we move into the traditionally quiet summer months the market is beginning to show signs of toughening up. Buyers are attending the sales but are not chasing too much stock. Vendors with clean or rare stock are seeing plenty of interest as buyers want something a bit different on their forecourt. However the majority of vehicles offered at auction seem to be duplicate stock and in most cases the condition is poor and the mileage high. These vehicles will sell but once a buyer has one or two in stock he is not rushing back for more. Many buyers do not expect to see stability return to the market until September with some peaks and troughs in the months to come."