‘Remarkable’ state of used van market

20th February 2014

Van values increased by 5.5% in 2013, despite a significant rise in their age, according to market analysis from Manheim Auctions.

While the average LCV value at auction rose from £4,179 in December 2012 to £4,405 at the end of last year, the average age of vans under the hammer increased from 60 months, up to 63 during the period.

“Comparing an average van at auction today to one we would have seen a year ago highlights the remarkable state of the current market,” James Davis, head of commercial vehicles at Manheim, said.  “Today’s average van is three months older and has around 1,200 more miles on the clock compared to December 2012.  The big difference is, today’s van is £226 more expensive.”

According to Manheim’s monthly market analysis, the rise in values has been driven by the on-going shortage of good quality, low mileage vans.

Looking ahead, James Davis said:  “There is more optimism around the business sector in 2014, with lending to SMEs reported to have increased and housing and construction projects restarting.  I think we will see van prices remaining strong in the first quarter of the year.”