Used van prices remain high despite winter downturn in sales

Despite last week’s news brought to you here at Van Compare detailing the disappointing winter downturn in sales of new commercial vehicles, the second hand market remains buoyant, with used van prices remaining high.

The news from British Car Auctions is that although prices of used vans did drop slightly in the last month, this figure is deceptive as the age of the average van sold during the period increased by eight months. The average age of second hand vehicles sold in the UK is now just under 60 months, with an average mileage of 81,400.

There was also a slight decrease in the value of vehicles in the fleet and lease sector over the past month with a 1.7 per cent dip down to £5113. However, this decrease has been taken with a pinch of salt by the industry, as this monthly figure still represented the second highest average monthly value on record.

The trend continued in the part-exchange sector, with values falling by two per cent to £2910; however, this figure is 6.7 per cent higher than for the same period last year.

The figures from British Car Auctions (BCA) have also tempered last week’s bad news in the new commercial vehicle sector. November has seen a rise of in the value of nearly-new stock, up from £13,581 to £14,474, representing a marked increase on prices during the same period last year.

Overall the figures are positive, illustrating that despite a small seasonal downturn, which was expected at this time of the year, demand in the sector remains strong.

A spokesman for the BCA, said: “Despite the weak economy and fragile business confidence, the state of the 2012 market has exceed the expectations of many industry insiders. Typically when the market eases, buyers leave the poorest condition vehicles behind, but with the shortage of stock in the marketplace, sales volumes have held up well in November and are perhaps unexpectedly on a par with October’s figures. ”