Wholesale used van values stabilise in June, reports Manheim Remarketing
Average prices have now risen in 10 of the last 11 months. Compared with June 2009 average wholesale used van prices are actually up by 38.3% (£1,192) following a reduction in average age of three months and despite an increase in average mileage of 3,726 miles to 71,491.
Examples of the increases in average month-on-month values in June include Large Panel Vans greater than 3.0t, up by 2.5% (£108 to £4,461) and Boxes & Lutons, up by 9.9% (£551 to £6,109). Examples in falls in average values include Car Derived Vans, down by 7.3% (£220 to £2,772); Small Panel Vans, down by 0.6% (£27 to £4,596); Large Panel Vans less than 3.0t, down by 1.7% (£68 to £4,014) and 4x4s, down by 8.8% (£664 to £6,846).
James Davis, general manager, commercial vehicles, Manheim Auctions, said: 'Care must be taken when looking at this month's headline rise. As conversion rates have hardened due to both seasonality and an increase in supply the contribution made by the smaller, and arguably more desirable, volume segments has driven this overall increase in average sale price. With so much duplicate stock and a fall in enquiries and retail sales, trade buyers will prefer not to tie up their cash in vans that need reconditioning for retail. Consequently these buyers are being selective and picking the cleanest stock to fulfil orders or fill gaps on their forecourts.'