Fleet News

Wholesale used van market strengthens as values increase

Average wholesale used van values increased by 3.7% (£150 to £4,209) in February, reinforcing an underlying strength in the market, according to analysis from Manheim.

Overall average age fell by two months to 59 months and average mileage fell 1,033 miles to 80,845. When compared with February 2011 average values are 4.6% (£186) higher, average age is seven months higher and mileage is up 5,721.

All the volume vehicle segments experienced increases in average values during February. Car Derived Vans increased 7.9% (£204 to £2,785). Small Panel Vans rose 4.3% (£181 to £4,410), Large Panel Vans <3.0t were up 5.0% (£194 to £4,061) and Large Panel Vans >3.0t rose 2.9% (£122 to £4,312).

Examples of falls in average value include Car Vans down 5.0% (£165 to £3,117), Tippers down 5.8% (£288 to £4,697) and Boxes and Lutons down 4.5% (£279 to £5,982).

James Davis, director of commercial vehicles at Manheim Remarketing, said: “The Small Panel Van segment has always been a great barometer of the health of the UK SME sector.

“We have seen average selling price increase year-on-year by 14% (£558) despite being five months older with 3,300 more miles.

“However the differences between vans sold to a hall bidder and those sold online are interesting. While age and mileage have increased for both, it is less pronounced for stock sold online.

“The year-on-year increase in average selling price for vans sold to physical buyers was £88. These vans were seven months older with just over 6,000 more miles.

“A different story altogether with vans sold online. Here average selling price has increased £560 year-on-year despite age increasing by three months and mileage by 4,600. Vans sold online are clearly the younger, lower mileage examples being fought over by all buyers.”

See this week's fleet news for insight and analysis on what online sales mean for physical auction sites and fleets.

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