When looking at the three main sectors and examining the sales performance of silver, white and blue vans sold across Manheim’s seven commercial vehicle auctions, more silver vans than ever before are reaching the sale rooms.
Since October 2006 Manheim reports that this increasing number of silver vans arriving at auction are also older with higher mileages than those highlighted in the previous study. The resulting impact has been a narrowing in the gap between prices of silver vans versus white and blue.
Manheim said silver vans are becoming popular across all the heavier weight ranges with more operators choosing them for their fleets.
“Higher repair costs associated with silver vans have historically put major operators off, but over the past six months we have started to see a change in the mix and source coming in for sale,” said Alex Wright, sales director, commercial vehicles.
“More and more silver vans across the weight ranges are being defleeted by the leasing sector, having been used under contract for longer periods. Whilst this gives buyers much needed choice, the increasing availability is clearly affecting the high residual value premium they once enjoyed,” he added.
#AM_ART_SPLIT# Car Derived Vans
The average selling price of silver vans remained higher than either white or blue (£3,219 compared with £2,218 and £2,494 respectively). Despite the higher average age of blue car derived vans (47 months), these vans had the lowest mileage (48,982 miles). In comparison, silver vans covered more miles (68,802 miles) despite the lowest average age (42 months) between Q1 2005 and Q1 2007.
Small Panel Vans
At £5,629, the average selling price was higher than white (£4,130) and blue (£3,930) mainly down to the average age (34 months) and mileage (50,060 miles) being lower than other colours. Silver vans achieve a 10% higher % of Cost New in this sector than white vans and 12% higher than blue.
Large panel vans of 3.0 Tonnes and under
Blue vans had the highest age and mileage in this sector at 65.7 months/82,778 miles, white vans were just 54.9 months/74,269 miles and silver 41.0 months/ 56,703 miles. However, silver vans are getting older (27.9 months in Q1 05 to 47.9 months during Q1 2007) and cover more miles (47,080 miles to 67,486 miles). The average selling price reflects this with blue vans making £2,975, white vans £3,328 and silver vans £5,062 between Q1 2005 and Q1 2007. However, the difference in price between silver vans in this period has fallen from £4,245 in Q1 05 to £2,087 in Q1 07.
Large Panel Vans Greater than 3.0 Tonnes
Age and mileage of blue vans here is the highest (55.2 months/96,926 miles). Silver vans (at 37.5 months/69,749 miles) were the lowest, but silver vans rose from 39.0 months during Q1 05 to 45.3 months during Q1 07. Average selling prices reflect this combination of age and mileage with blue vans making £3,600, white vans £4,250 and silver vans £5,903. However from Q1 05 to Q1 07 prices for silver vans fell from £5,749 to £4,996, reinforcing that the ultimate appeal of the silver van may have started to fade.