Van values strengthen further in April
The latest strengthening in van values means that they are now nearly 15% higher than in January 2010. Average prices have now risen in all but two of the last 15 months, illustrating just how severely values were affected during recession, as well highlighting the strength of their recovery, says Manheim.
Compared with April 2009 average wholesale used van prices are actually up by 43.8% (£1,346) despite average age being up by two months at 54 months and average mileage up to 73,368, an increase of 5,442 miles.
Notable examples of the increases in average month-on-month values in April include Small Panel Vans up by 4.2% (£189 to £4,735); Large Panel Vans less than 3.0t, up by 4.4% (£172 to £4,115); and Large Panel Vans greater than 3.0t, up by 11.6% (£493 to £4,727). In contrast there were some falls in average value experienced by Tippers, down by 11.7% (£616 to £4,640); Boxes & Lutons, down by 5.9% (£311 to £4,985) and 4x4s, down by 1.1% (£84 to £7,370).
James Davis, general manager, commercial vehicles, Manheim Auctions, said: 'Average van values in the wholesale van market are nearly 50% higher year on year. The price recovery has been particularly evident in the major volume segment of the market – the large panel van – and has been fuelled by a wholesale supply shortage. To date the effect of traditional seasonality has been minimised due to under supply but the market is becoming tougher and there is evidence now that wholesale van de-fleet volumes are increasing which will put pressure on values in the weeks to come.'