Van values down 1% in August, reports Manheim
The firm's latest monthly Market Analysis for Vans reveals that at £3,999, average wholesale van values have fallen by just 1% (£40) compared with July. This is reflective of an underlying strength in the market, despite the usual lighter seasonal demand. Values were also boosted by a growth in online sales, with average online sales prices rising by 9.4% (£407) over the past month. Vehicles sold online in August were on average three months younger and with 1,075 less miles in comparison with July.
Four of the key vehicle segments to reflect this market strength with a rise in values were: Large Panel Vans less than 3 tonnes up 3.6% (£155) to £4,475, Large Panel Vans over 3 tonnes up by 1% (£48) to £3,779, 4x4s up 2% (£144) to £6,923 and Small Panel Vans up by 0.4% (£17) at £4,258. Sectors that have fallen are Car Van, down by 5.8% (£142) to £2,278 and Car Derived Vans down by a marginal 1.1% (£31) to £2,662.
James Davis, general manager, commercial vehicles, Manheim Remarketing, said: 'The lead-up to the bank holiday weekend in August is normally quiet. However, it is encouraging to see that the market stayed buoyant throughout. There is a general positivity amongst trade buyers at the moment with more deals being done than they have seen for some time now. As we start to see stock volumes increase and better attendances in the auction halls, the future is certainly looking brighter for used commercial vehicles.'