Sales of used vans and trucks have been particularly slow for many dealers and have been following the normal pattern of weaker demand during summer.
George Alexander, chief commercial vehicle editor at EurotaxGlass’s, said: “The wet weather did little to raise spirits and a further quarter per cent interest rise kept the buyers away as concerns over the economy led to uncertainty.
"The fear is that this latest rate rise will prompt a significant slowdown across the entire economy when the aim of managing inflation was already well in hand.
“As a result, the actions of the Bank of England’s monetary policy committee could be viewed as overkill, the consequences of which will not become fully apparent for the van and truck market until well into 2008.”
Over at CAP, experts are finding a conundrum over the value – or otherwise – of automatic gearboxes in vans.
Last year, 32% of used dealers believed that an auto ’box added value to a van, making it worth more than a manual, but this year that figure has plummeted to just 12%.
More than half say they are actually worth less than manuals, despite the fact that they are significantly more expensive to buy new – a point worth bearing in mind for fleet operators looking to purchase new vehicles.
CAP is still seeing a shortage of stock for vans in the 2.0-3.5 tonne gvw sector, meaning that vehicles which need some refurbishment are still attracting bids, albeit at a reduced rate.
One particular star at auction is the Volkswagen Transporter with the top-of-the-range 174bhp engine, which is attracting frantic bidding.