Used van prices up despite age and mileage increases
20 October 2009
Manheim reports LCV auction price rises
Stock shortages are driving up used light commercial vehicle prices, with auction group Manheim recording a 4.8% increase last month, compared with August, while year-on-year prices for September are up 19.3%.
The average wholesale used van price now sits at £3429, according to Manheim, with an average age up two months to 56 and mileage up 1674 miles to 73,092.
"This year we are selling vans faster and for more money as volumes have reduced by 13% compared with September last year," said Alex Wright, Manheim's commercial vehicle sales director. "Many vendors believe that used wholesale van volume will begin to increase, possibly as early as December. However, as economic uncertainty recedes, there could be a return in confidence with the self-employed sector, which could boost demand and help protect values."
Manheim reported that car derived vans were up 8.4% and large panel vans by 3.1%, while box and Luton vans were down 14.9% and car vans dropped 7.1%.