Van values remain buoyant
This is despite a reduction in both average age and mileage. At 55 months, average age in January was down by one month compared with December while average mileage was lower by 2,831 miles at 74,024.
Compared with January 2009 average wholesale used van prices are actually up by 46.0% (£1,210) with average age up by two months to 55 months and average mileage 5,144 miles higher at 74,024.
Examples of the increases in average month-on-month values in January include Car Derived Vans, up by 13.5% (£319 to £2,678); Small Panel Vans, up by 5.6% (£223 to £4,224); Large Panel Vans less than 3.0t, up by 2.4% (£83 to £3,577); Large Panel Vans greater than 3.0t, up by 12.0% (£437 to £4,069); and 4x4s, up by 4.7% (£303 to £6,731).
Examples of decreases in average values include Boxes & Lutons, which fell by 17.7% (£752 to £3,498).
Manheim has also forecast that values will remain strong in coming months.
Alex Wright, sales director, commercial vehicles, Manheim Auctions, said: 'Despite the economic environment, the used van marketplace has stayed robust and the outlook for 2010 remains very positive. While business confidence is slowly beginning to return, new commercial vehicle registrations are unlikely to recover before the plate change in September and it will be smaller vans that are expected to recover first. This will result in the continued shortage of supply, which should keep used values high for the next six months.'