Fleet News

LCV market buoyant despite availability

A rise in availability failed to dampen the light commercial vehicle market over the summer and into the autumn, according to Manheim.

The LCV market showed signs of increasing strength, despite a rise in the numbers of used and new vehicles being available.

The arrival of new models from some of the main manufacturers could partially explain the surge and subsequent slowdown in volumes, as well as the rise and moderate fall in age and mileage in the wholesale market.

But factors further afield, such as the faltering US finance market, and the holding of UK interest rates, could also have had an impact on demand.

The second quarter of the year – a time when volumes traditionally remain static – saw increasing numbers of vehicles available for sale, although this dropped off in the third quarter.

There was also an increase in vehicle age and mileage, but demand and values continued to rise.

The average age of stock sold across Manheim’s LCV network rose by three months during quarter two, to the highest value recorded.

But it remained static at 55 months during the third quarter.

During the same period, average mileage rose initially to 76,800 miles during quarter two, but fell to 74,059 miles during quarter three.

The average selling price rose by more than 10% during the same period, from £3,318 during the first quarter to £3,675 during quarter three.

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