Although many factors are affecting values in a volatile market, stability is on the way, according to one industry expert.
Alex Wright, sales director, commercial vehicles, at Manheim Auctions, said: “There is no doubt that the current economic uncertainty affecting the business community is having a detrimental impact on the values of used light commercial vehicles going through auction.
"However, I believe there are other factors that need to be taken into account and that, as the market settles down, we will begin to see the first signs of stability.
“In 2007 we saw unprecedented demand for used vehicles because of shortage of supply which resulted in strong values pretty much throughout the year, so any year-on-year comparisons may be unrepresentative.”
Wright added: “There is the traditional seasonal slowdown during the summer months that we are experiencing now.
"Combine this with two other related factors which have come to prominence in recent months – age and condition – and buyers becoming more choosy.
"It could be argued that all of these factors, except the seasonal slowdown, are a result of the economic uncertainty as contracts are extended resulting in higher than usual incidences of damage and buyers gain the upper hand as they become more cautious, more selective and less willing to invest in stock.
Dealers around the country are telling us that they are all having to reduce their holding stock.”