Fleet News

Used van values could come under pressure as volumes rise

Overall used van values may have fallen during March, but values in the fleet and lease LCV sector bucked the trend, according to data from BCA.

Used LCV values fell by £45 across the board in March to £4,227 according to BCA’s latest figures, a 1.0% drop from the February figure and 5.7% behind the 20-month high recorded in January.

However, it reports that values improved marginally in the fleet & lease LCV sector, rising by £33 (0.6%) in March compared to February. Average values remain some £300 ahead of where they were last summer, with average mileage and age remaining largely static.

Duncan Ward BCA’s general manager, commercial vehicles, said: “The fleet and lease sector has seen generally higher values since September last year and there is little sign of demand easing for good quality LCVs.

“However, looking ahead, we expect volumes to rise in the short-term as corporate de-fleets filter through and this must have an effect in a supply and demand marketplace.”

At Manheim average wholesale used van values fell by 1.7% (£73 to £4,136) in March. Overall average age increased by one month to 60 months and average mileage was up 1,634 miles to 82,479.

When compared with March 2011 average values were 4.9% (£192) higher, average age was eight months higher and mileage was up 6,216.

James Davis, director of commercial vehicles, Manheim Remarketing, said: “Year-on-year used van inflation continues to be evident across the segments, with the greatest reported in the Large Panel Van, greater than 3 tonne segment.

“Here average selling price has increased nearly 10% year on year despite the stock being 8 months older with nearly 10,000 more miles. While percentages sometimes lack scale, that near 10% increase equates to £385. With over 60% of new van registrations sitting in this segment, used van values can be very significant.”


 


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