Average wholesale used van values increased by 3.8% (£146) to £4,015 in September despite an increase in both average age and mileage, according to Manheim Remarketing’s latest monthly Market Analysis.
Average age increased by three months to 58 months and average mileage went up by 3,800 miles to 79,671. Compared with September 2010, average values are 2.7% (£111) lower, average age is seven months higher and average mileage is up by 9,112 miles.
James Davis, general manager, Commercial Vehicles, Manheim Remarketing, said: “We have clearly emerged from summertime seasonality and conversion rates have jumped with several sales experiencing 100% conversions.
“The market is fuelled by the lack of de-fleet volumes in the pipeline awaiting sale and year-on-year sold volumes were down 15% in September, the first clear sign of the reduction in stock. However last year we were starting to see significant volumes from the high profile fleet and business failures so that needs to be considered when making comparisons in the coming months.
“Car derived vans are seeing increases in average age and reductions in average mileage. This typically represents the influence of the highly desirable stock from utility fleet replacement programmes, borne out by the fact that average sale values have remained stable despite this older stock profile.
“Small panel vans, despite month-on-month increases in age and mileage, have seen average selling prices stabilise. These vehicles are a key barometer of small business users buying used vans for their businesses. A close eye must also be kept on the impact of higher mileage on values in this sector.”
Tim Spencer, group commercial vehicle auctioneer, Manheim Auctions, added: “ In the large panel over 3.0t segment, mileage has climbed significantly since Easter, from just over 85,000 miles in April to just over 102,000 miles in September while average age has remained flat at 53 months.
“This demonstrates that vans sold in this segment have been worked harder and travelled more miles over less time. Typically the daily rental fleet replacement programmes play a key part in this trend as do contract extensions. Average sale values of 4x4s have shown clear seasonality over the last 13 months.
“September has seen a clear and defined uplift in average selling price of £556 in just one month. Export demand helps boost the fortunes of specific models in this segment.
“Finally, the LEZ appears to be getting more exposure in the press and on social media sites, coupled to direct mail campaigns to owners. The impact of that pent up, artificial demand spike when coupled to the current wholesale van shortage is likely to drive used values higher still.”