Used Van Prices Finish ‘09 On A High Say Manheim
The average wholesale used van prices increased by 0.3% in December ‘09 compared with November ‘09 reports Manheim Auctions. Their latest monthly report, which analyses sales in the van market shows December ‘09 to be the tenth month in the year that average values have increased and the fifth month in a row. Compared with December 2008 average wholesale used van prices are actually up by 46.3% with the average age of a van up by three months to 56 months and average mileage 6,691 miles higher at 76,855.
Examples of the increases in average month-on-month values in December include Car Vans up by 26.9% , Boxes and Lutons up by 7.8% and 4x4s up by 2.7%.
There have, however, also been decreases in values such as Car Derived Vans down by 8.5% , Small Panel Vans down by 3.3% and Large Panel Vans greater than 3.0t down by 5.3% . At 56 months, the average age in December was up by one month compared with November while average mileage was higher by 1,981 miles at 76,855.
Alex Wright, Sales Director, Commercial Vehicles, Manheim Auctions said: “The scale and speed of price movement that has been witnessed over the past 18 months in the wholesale used van marketplace is unprecedented. Despite the economic environment, the used van marketplace has remained robust with average used van values having increased by almost 50% in the last 12 months, despite age and mileage being higher year-on-year. The outlook for the used van market remains very positive as we enter 2010. Although economic and business confidence is returning, new commercial vehicle registrations will take time to recover which plays into the hands of the used van market as the continued shortage of supply will keep values high.”
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