Van values fall in May after nine months of increases
However, the firm spoke of the underlying strength of the market, pointing out that compared with May 2009 average wholesale used van prices are actually up by 37.3% (£1,165) despite an increase in average mileage of 3,294 miles to 70,004. IN addition, average prices have fallen in just three of the last 15 months.
Examples of the decreases in average month-on-month values in May include Car Vans down by 8.5% (£208 to £2,237), Small Panel Vans down by 2.4% (£112 to £4,623), Large Panel Vans less than 3.0t down by 0.8% (£33 to £4,082) and Large Panel Vans greater than 3.0t down by 7.9% (£374 to £4,353). In contrast there were some increases in average value experienced by Car Derived Vans up by 2.4% (£71 to £2,992), Boxes & Lutons up by 11.5% (£573 to £5,558) and 4x4s up by 1.9% (£140 to £7,510).
James Davis, general manager, commercial vehicles, Manheim Auctions, said: 'A combination of an increasingly tough market, rising volumes and the re-emergence of the traditional softening of demand at this time of year has resulted in the first decrease in average values for nine months. Manheim has seen an increase in de-fleet volumes due largely to the implementation of several major daily rental fleet replacement programmes. Given the time of year and increase in supply, the pressure on prices will continue so it is more important than ever that vendors stay close to the market and react to price movements.'