Demand boosts used van values
22 November 2010
Strong demand coupled with low volumes saw LCV values rise in October, according to BCA.
Wholesale van values increased by £33 to £4179 month-on-month while volumes fell by 9%. BCA said the stock shortfall was most pronounced in the volume fleet sector although part-exchange numbers were also down. Nearly-new vans were "exceptionally scarce".
Fleet values edged up £51 to £4882 in October and performance against CAP improved by half a point to 99.52%.
BCA said year-on-year values in this sector were up £689.
Part-exchange values grew by less than 1% to £2397 in October but have risen steadily since July, according to BCA. CAP values fell to 99% from the high of 102% achieved in September.
BCA said model mix had the greatest impact on price in the nearly-new sector as average values dropped by nearly £300 to £12036 - 101.6% of CAP.
Manheim Remarketing said average used van values fell by 0.8% to £4092 in October following a rise of 3.2% the previous month. It said average values were 14% up year-on-year, demonstrating the underlying strength of the market.
According to Manheim, values fell in most categories in October but Tippers bucked the trend with a sharp rise of 16% to £5948.
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