Van values fall 2.8% in February, reports Manheim Remarketing
This fall in average values follows three months of increases and accompanies a rise in average age of two months to 52 months and an increase in average mileage of 1,495 miles to 75,124 miles.
When compared with February 2010, average values are 0.2% (£10) higher, average age is two months lower and mileage is up by 1,228 miles.
Most of the volume vehicle segments recorded decreases in value when compared with January 2010 except Car Derived Vans which increased by 3.1% (£82) to £2,732 and 4x4s up by just 0.4% (£36) to £8,049. Examples of falls in average values include Small Panel Vans which fell by 4.3% (£173) to £3,852, Large Panel Vans <3.0t fell by 6.8% (£271) to £3,727 and Large Panel Vans >3.0t fell by 0.8% (£36) to £4,157. Average values of Tippers fell by 10.7% (£641) to £5,318 and Buses fell by 6.1% (£374) to £5,804. In all cases except for Large Panel Vans >3.0t there were significant increases in average age and mileage.
Tim Spencer, group commercial vehicle auctioneer, Manheim Remarketing, said: 'The first two months of the year have proved to be very busy. Large volumes of used vans have been successfully remarketed and the slight fall in values is against a backdrop of increasing age and mileage profile.'
He added: 'The auction lanes throughout the country remain full of buyers as demand is still strong especially for vehicles in the £2,500 to £4,500 price range while late year, low mileage vehicles continue to attract lively bidding because of their short supply. There is still a lot of choice out there and with vendors being realistic with their pricing the stock is moving on nicely.'