Market analysis of the wholesale light commercial vehicle industry has revealed that used-van values reached an all-new high last month.
In November, automotive products and services provider Manheim found that a van sold at auction achieved the average selling price of £4,424.
Used commercial vehicle sales on the rise
Not only is this a rise of £33 year-on-year, but also the highest average price that Manheim has chronicled since it first started tracking values back in 2007. Last month’s rate easily eclipsed the previous record of £4,317, which was logged in April 2010.
On top of all of this, Tim Spencer, Manheim Remarketing’s Commercial Vehicle Manager, noted: “We’ve seen some interesting trends emerge in the last few weeks, with large panel vans over three tonnes up by £515 compared to October, despite their average age increasing by four months and mileages up by 2,267.”
Mr Spencer also acknowledged that the recent Manheim market analysis highlighted that half of the light commercial vans sold last month had an average age of 84 months and clocked up 120,000 miles over their lifetime.
He stated that this is confirmation that there is a “shortage of younger stock in the auction halls”.
James Davis, the Head of Commercial Vehicles at Manheim, also looked at how old the average light commercial van was when it was sold at auction in November, as well as how far it had travelled on the road when analysing the research.
He pointed out: “Over the past 12 months, the average age of vans bought online has increased by eight months, with mileages creeping up by only 4,000. As a direct result, average selling prices online have fallen year on year by £463, reflecting the older age profile.”
Manheim’s research comes soon after a BCA Pulse report suggested that there has been a ten per cent rise in the average value of a used car year-on-year.
