NO SIGN OF SLUMP IN VALUES ACCORDING TO LATEST REPORTThu, 10 Oct 2013
DEMAND continued to keep values relatively firm in the used commercial vehicle market in February, according to leading vehicle auction specialist, British Car Auctions (BCA).
Despite volumes rising sharply average values fell by £76 (1.8%) in February while sold volumes increased by nearly 13% over the same period, following a near 50% increase between December and January. Average monthly values have broadly remained between £4,000 and £4,200 since summer 2010.
Duncan Ward BCA’s General Manager – Commercial Vehicles commented: “Demand held up well in February following the strong start to the year. Overall the market seemed pretty confident, although there were patches when buyers seemed to turn off. There are still issues relating to poor stock mix resulting from an influx of vans from business failures and liquidations, often in poor condition or non-retail colours and with a low specification and that is likely to continue in the months ahead.”
There continued to be significant value growth in the part-exchange sector, which climbed sharply for the second month running, following a six month period where values had moved little. Values rose by £113 to reach £2,565 – an increase of 4.6% - and the highest value recorded since April of last year.
Nearly-new volumes remain very low and fell back for the second month running. Values also fell - by £60 to £10,344 in February.
“Although it is early days in the wake of the ’11’ plates, the corporate buyers have been active and we should expect to see de-fleet volumes ramp up and possibly some more price pressure in the fleet/lease used van sector” continued Duncan Ward. “Retail new van business remains pretty flat so dealer part-exchange volumes are unlikely to increase sharply, and with continuing demand for budget vans it is likely prices will remain relatively firm in this sector. The low volumes of nearly-new vans remain highly desirable, of course, and anything with a retail specification or in a rare configuration can make exceptional money.”
By By Press Association reporters