By Amanda White 23 November 2009
Manheim’s latest Three-Year Market Analysis for Vans reports that the average selling price for a van was 4.0% (£127) higher than Q3 2006 but 10.7% lower than Q3 2007, which was a record year. The volume of vans sold by Manheim has varied from quarter to quarter with the most notable variance occurring in Q2 2009 when volumes were more than 25% higher than in the same period in 2008.
Whilst average values in 2009 are still below the peaks achieved in 2007, two van segments are actually performing even better than 2007. Car Vans are up by 1.9% and, perhaps more notably, 4x4s up by 23.1% . In contrast, average values of Tippers and Boxes & Lutons are at their lowest levels for three years at £3,538 and £3,967 respectively. However, volumes in these two segments are small with values heavily influenced by vehicle condition. Over the past three years average age has remained stable at 55 months, while average mileage has fallen slightly.
Alex Wright, Sales Director, Commercial Vehicles, Manheim Auctions commented: “Accepting that 2007 was an exceptional year, today’s market performance is even more impressive than that of 2006 because of the current macro-economic weakness. The continued strengthening of wholesale used van prices throughout 2009, despite the increase in supply, indicates a healthy buyer demand at the heart of the market. Prices should ease during the final quarter due to seasonality and we are also starting to see increases in average age and mileage. If this trend continues, due to contract extensions and deferred fleet replacement programmes, we will see the re-emergence of a two-tier marketplace with older, higher mileage and more damaged vans suffering a ‘softening’ in values with the much more desirable sub 60,000 mile, younger vehicles making strong money.”
Further details can be found at www.manheim.co.uk.
Categories: Fleet news , Manheim
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