Van values fall in November, reports Manheim Remarketing
Values fell despite average age reducing by two months to 50 months and average mileage falling by 4,770 to 70,295 miles. However, the underlying strength of the market is demonstrated by the fact that average values are still 7.5% (£276) higher than the same period last year.
Examples of falls in values in November include Car Derived Vans down 4.1% (£111) to £2,588, Small Panel Vans down 5.9% (£256) to £4,062 and Large Panel Vans > 3.0t down 3.1% (£134) to £4,217.
Not all vehicle segments suffered a fall in average values however, with Boxes and Lutons increasing by 14.8% (£865) to £6,716 and 4×4 pickups up 7.1% (£499) to £7,500.
James Davis, general manager, commercial vehicles, Manheim Remarketing, said: ‘This latest analysis does show values starting to soften and as we move into 2011 we will need to keep a careful watch on volumes and to separate the impact of seasonality and the issue of supply. With just a few days to go before the holiday period many of our buyers report that retail interest and footfall may have fallen but I would still advise vendors to offer vans right up until Christmas.’