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Used van prices up 4.8% in September, says Manheim

Used van prices increased by 4.8% or £156 in September to an average of £3,429 which marks the seventh month this year that average values have increased.

The latest analysis from Manheim shows that when compared with September last year, average wholesale used van prices are actually up by 19.3% (£554), all the more surprising given that the average age has also gone up by three months to 56 months and average mileage is 1,674 miles higher at 73,092.

Examples of the increases in average month-on-month values in September include car derived vans up by 8.4% (£192 to £2,474), large panel vans less than 3.0 tonnes up by 3.1% (£98 to £3,261) and large panel vans greater than 3.0tonnes up by 5.8% (£194 to £3,508).

In addition, 4x4s were up by 1.5% (£91 to £6,295).

The vehicle segments that reported a decrease in value in September were car vans down by 7.1% (£153 to £2,007), tippers down by 4.2% (£156 to £3,525) and boxes & lutons down by 14.9% (£645 to £3,686).

At 56 months average age in September was up by two months compared with August while average mileage increased by 2,486 miles to 73,092.

Alex Wright, Manheim Auctions sales director for commercial vehicles, said: “This year we are selling vans faster and for more money as volumes have reduced by 13% compared with September last year.

“These stock shortages have helped drive wholesale used van values ever higher and dealers are working harder, in person and online, to secure the best stock.

“Many vendors believe that used wholesale van volumes will begin to increase, possibly as early as December. However, as economic uncertainty recedes, there could be a return in confidence within the self employed sector, which could boost demand and help protect values.”

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