USED van values have put on spurt, bouncing back to near-record levels, according Manheim.
The average value of vans sold at auction in April reached £4735.
A slight decrease in average mileage from 80,302 to 80,191, together with a two-month drop in average age to 63 months, led to the £132 boost in used van values.
Car-derived vans predominated, with 42% of all vans sold in April in this sector. But the average age of CDVs at 61 months was four months older, and mileage greater at 70,128, up from 69,982. This led to a drop in April average sales price from £3667 to £3499.
But in the second highest-volume sector – small panel vans – average age dropped from 78 months to 68 months, although average mileage increased from 78,832 to 87,925.
The boost in number of younger vehicles had a beneficial effect on value at auction with the segment showing an increase from £4131 to £4444.
Manheim’s head of LCV Matthew Davock told Business Vans that despite the slight decrease in buyers at auction during April, many of the people he spoke to reported that the first three months of 2014 had been the strongest they had seen in five years.
“When comparing the year-on-year values, 2014 vehicle prices have remained very strong and we continue to see a great appetite in the market for older age, older mileage stock,” he said.
Manheim’s James Davis, head of commercial vehicles, said: “Our latest monthly analysis clearly shows that the traditional seasonal slowdown around the Easter weekend has been over-ridden by price increases.”
He said that, as predicted, a ‘watershed’ moment in the wholesale market had occurred and the number of older used vans entering the market would now begin to decline gradually. Daily rental companies were already predicting an increase in stock levels over the coming months, he said, as lead times on new stock delayed the replacement in quarter two.
“This increase in good quality, younger vehicles into the market will have a positive impact on the average selling prices as we enter the summer,” Davis said.