The average value of used large panel vans increased by £434 to £3977 in August
SECONDHAND car-derived vans and large panel vans were in demand last month.
According to Manheim Remarketing, the average value of large panel vans (over three tonnes) increased by £434 to £3977 in August, while car-derived vans experienced a rise in average selling price of £20 to £3151.
The car-derived sector made up 37% of all vehicles sold over the month by Manheim. Overall, average selling prices increased in five of the 11 LCV segments.
The continuing popularity of car-derived vans saw values increase by 15.2%, or £394, year on year. And despite the average age being identical, average mileage had decreased by only 3610.
Taking the age of this ever popular sector into account, 36% of all car-derived vans sold in August had an average age of 86 months; 37% of them had an average age of 40 months. Underscoring pent-up demand, 41% of all vans sold online by Manheim in August were car-derived models.
Manheim Remarketing commercial vehicle manager Tim Spencer told Business Vans that there was a strong two-tier market for car-derived vans.
“Typically the vehicles attract fewer incidences of damage compared to their larger workhorse cousins, as they’re used for different jobs.”
He said that dealers preferred to stock several lower-value vans rather than tie up their cashflow in one larger, more expensive van during a seasonally quiet retail market.
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