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Used LCV prices increase in November

Average wholesale used van prices increased by 2.6% (£93) in November to £3,683 compared to October, according to new figures from Manheim.

This is the ninth month this year that average values have increased and the fourth month in a row.

Compared with November last year average wholesale used van prices are actually up by 39.4% (£1,042) with average age up by two months to 55 months and average mileage 6,180 miles higher at 74,874.

Examples of the increases in average month-on-month values in November include large panel vans less than 3.0t up by 3.6% (£124 to £3,599) and large panel vans greater than 3.0t up by 8.3% (£294 to £3,834).

An example of a vehicle segment that reported a decrease in value in November was car derived vans down by 0.8% (£20 to £2,578). At 55 months average age in November was down by two months compared with October while average mileage was lower by 1,191 miles to 74,874.

Alex Wright, Manheim Auctions sales director commercial vehicles, said: "Although average wholesale values have increased again when compared with the previous month, the actual rate of increase has slowed down.

"Considering that average age and mileage have fallen, the increase is not significant but any increase in values at this time is unexpected.

"Those fleets that deferred replacement in 2008 and 2009 will start to release these vehicles into the wholesale used van market in the early part of 2010. That is likely to result in a continuation of a two tier market with older higher mileage vans providing good value for money and younger, lower mileage stock attracting significant premiums."

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