Average wholesale used van values stabilised in August with average values up by just 0.5% (£19) to £3,869, according to Manheim Remarketing’s latest monthly market analysis for vans.
When compared with August 2010, average values are 3.2% (£130) lower, average age is three months higher at 55 months and average mileage is up by 4,238 miles to 75,871 miles.
Four of the five volume sectors showed very small decreases in average value of anywhere between just 0.1% and 0.6%.
But large panel vans >3.0t experienced an increase of 7.6% (£301) to £4,239 with an average age that was two month lower but with an increase in average mileage of just over 1,000 miles. Other notable examples of increases in average values include: car vans which rose by 3.1% (£83) to £2,754; and buses up by 14.6% (£723) to £5,689. Meanwhile, the average value of tippers fell by 15.7% (£878) to £4,719.
James Davis, general manager, Commercial Vehicles, Manheim Remarketing, said: “There are a couple of key factors that are affecting the wholesale van market at the moment.
“We are now seeing the true stock profile without the influence of the late registered product from high profile business failures that were a factor earlier in the year.
“Year-on-year sold volumes are up 14% demonstrating the underlying strength of the used van market.
“A recent survey published by Manheim showed 65% of buyers thought they would not have any issue sourcing stock for the remainder of the year. However, with the forthcoming changes to the LEZ fuelling an artificial demand spike until the end of the year, the predicted wholesale van shortage is likely to drive used values higher.”