Manheim Remarketing reports rise in van values
The company's latest monthly Market Analysis for Vans reveals that at £4,126, average wholesale used van values have increased by 3.2% (£127) compared with August. Manheim Remarketing says that the increase suggests a return to the traditional seasonal uplift at this time of year as average age is down by just one month to 51 months while average mileage is down 1,074 to 70,559. The strength of the market is demonstrated further by the fact that average values are 20.3% (£697) higher that the same period last year.
Four of the key vehicle segments that reflect this market strength with a rise in values were: Car Vans up by 3.5% (£80) to £2,358; Small Panel Vans up 4.0% (£172) to £4,430; Large Panel Vans less than 3 tonnes up 5.1% (£191) to £3,970 and 4x4s up 5.3% (£370) to £7,293.
James Davis, general manager, commercial vehicles, Manheim Remarketing, said: 'Despite a record wholesale market performance in 2009 used van values are still 20% up on the same time last year and 23% more vans were sold last month compared with the same period in 2009. Trade sentiment remains positive, with many well-specified, clean vans attracting higher bids than expected but duplicate stock is still an area of vendor focus as we come out of the seasonal slowdown. Opinions are divided amongst our vendors as to whether de-fleet volumes will now fall away or whether they will remain constant.'