Manheim Remarketing’s latest monthly market analysis for vans reports that at £4,237, average wholesale used van prices have increased by 14.7% since the beginning of the year. The rise in average values in the equivalent first three months of 2009 was 11.3%. The increase in the month of March 2010 of 5.6% (£224) follows a rise of 4.4% (£169) in February and is the ninth month in a row that values have improved.
Average values have now increased in all but two of the last fourteen months. Compared with March 2009 average wholesale used van prices are actually up by a staggering 47.5% (£1,365) with the same average age of 54 months and average mileage 3,544 miles higher at 74,202.
Notable examples of the increases in average month-on-month values in March include large panel vans less than 3.0t up by 4.4% (£168 to £3,943), large panel vans greater than 3.0t up by 2.5% (£104 to £4,234), buses up by 10.1% (£510 to £5,543) and 4x4s up by 9.3% (£633 to £7,454). At 54 months, average age in March was static when compared with February while average mileage was higher by 306 miles at 74,202.
James Davis, general manager for commercial vehicles, Manheim Auctions said:“There seems to be no end to the continued increase in wholesale values at the moment and certainly no evidence yet of the traditional seasonal softening of the market. Demand remains very strong while the relative lack of supply continues to affect values. The imminent General Election may create some market uncertainty during April but the overall upward trend in values looks likely to continue in the medium term.”
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