Wholesale van values fall 2.0% in March
The firm's latest monthly Market Analysis for Vans reveals that values fell by 2.0% (£79) to £3,944 last month following a 2.8% fall in February.
Average age remained static at 52 months with average mileage up by 1,139 to 76,263 miles. When compared with March 2010, average values are 6.9% (£293) lower, average age is two months lower and mileage is up by 2,061 miles.
Examples of falls in average values include Large Panel Vans >3.0t which fell by 2.5% (£103) to £4,054 and 4x4s which fell by 4.5% (£363) to £7,686. However although many of the volume vehicle segments recorded decreases in value when compared with February there were some exceptions. Car Derived Vans increased by 1.5% (£41) to £2,773, Small Panel Vans increased by 4.7% (£183) to £4,035 and Large Panel Vans <3.0t increased by 4.2% (£161) to £3,888. Most of the value changes were related to either increases or decreases in average age and mileage.
James Davis, general manager, commercial vehicles, Manheim Remarketing, said: 'These small reductions in average values need to be seen in context. During 2011 we have witnessed ever-increasing levels of demand and some truly exceptional sale performances. Sold volumes are anywhere between 20% and 30% higher year on year caused mainly by consolidation in the daily rental sector and other industries. The good news is that these vans are "bread and butter" products with the right specification, badge and in the main in good condition.
'Meanwhile an increasing number of utility fleets are replacing vehicles so there is a healthy level of older product catering for a variety of budgets. Nearly new vans, in greater supply than usual, are keenly fought over with buyers recognising the great value they offer. From a retail perspective these vans offer exceptional value for money whilst avoiding the longer lead times currently associated with some new vans.'