Van values rise 1.7% in January, reports Manheim Remarketing
The firm's latest monthly Market Analysis for Vans also reveals that the 1.7% rise came as average age remained static at 50 months while average mileage was up by 3,073 to 73,629 miles.
When compared with January 2010, average values are 7.6% (£294) higher, average age is five months lower and mileage is down by just 395 miles.
Most of the volume vehicle segments recorded increases in value when compared with December 2010. Average values of Car Derived Vans increased by 3.5% (£90) to £2,650, Small Panel Vans rose by 3.3% (£130) to £4,025 and Large Panel Vans <3.0t rose by 5.4% (£204) to £3,998 (£255) to £6,178.
Examples of decreases in average value include Large Panel Vans >3.0t which fell by 1.9% (£81) to £4,193, due in part to an increase in average mileage. Average values of Tippers fell by 7.1% (£456) to £5,959 and Boxes & Lutons fell by 12.2% (£834) to £5,977 following increases in both average age and mileage.
Tim Spencer, group commercial vehicle auctioneer, Manheim Remarketing, said: 'As we move into February the used commercial vehicle market is looking very strong. There is still a large amount of stock at auction and conventional wisdom is that this would slow the market down. However, as predicted at the start of the year, there is demand for just about every sort of vehicle. Whilst there will always be buyers for the sub £1,500 product, late, low-mileage and well-specified vehicles are also being snapped up with lots of buyer interest.'
He added: 'The market is waiting to see how the £3,500 to £5,000 market will fare in the current period of strong supply and the indications are that a couple of key factors are supporting the market. With fewer vehicles in the daily rental market, end users are now looking more than ever to auctions to source used vans.
'With the trade willing to pay sensible money for vehicles, vendors in tune with current market conditions and the supply situation are pricing their vehicles appropriately as well as allowing for damage.'