September sees boost in wholesale used van values, reports Manheim Remarketing
Average age increased by three months to 58 months and average mileage went up by 3,800 miles to 79,671. Compared with September 2010, average values are 2.7% (£111) lower, whilst average age is seven months higher and average mileage is up by 9,112 miles.
James Davis, General manager, Commercial Vehicles, Manheim Remarketing said: 'We have clearly emerged from summertime seasonality and conversion rates have jumped with several sales experiencing 100% conversions. The market is fuelled by the lack of de-fleet volumes in the pipeline awaiting sale and year-on-year sold volumes were down 15% in September, the first clear sign of the reduction in stock.
'However, last year we were starting to see significant volumes from the high profile fleet and business failures so that needs to be considered when making comparisons in the coming months. Car derived vans are seeing increases in average age and reductions in average mileage. This typically represents the influence of the highly desirable stock from utility fleet replacement programmes, borne out by the fact that average sale values have remained stable despite this older stock profile.
'Small panel vans, despite month-on-month increases in age and mileage, have seen average selling prices stabilise. These vehicles are a key barometer of small business users buying used vans for their businesses. A close eye must also be kept on the impact of higher mileage on values in this sector', he went on to add.For more of the latest industry news, click here.