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Used van prices flatten out in July

Wholesale used van prices dropped by just 0.6% or £19 in July in comparison to June, according to Manheim Auction’s latest monthly van market analysis.

Although this is the second month in which average values have fallen following five consecutive month-on-month increases in average wholesale used van prices the falls are minimal.

Compared with July last year average wholesale used van prices are actually up by 5.2% (£153) with average age the same at 54 months and average mileage 3,385 miles lower at 67,803.

The latest report highlights that values of vans more than two years old were largely in line with the overall market with a fall of 0.7% (£20) while greater variances were experienced by vans less than two years old.

Examples of the increases in average month-on-month values in July for vans more than two years old included car derived vans up by 1.9% (£38) to £2,014, large panel vans < 3.0t up by 8.9% (£229) to £2,800 and buses up by 4.0% (£169) to £4,375.

Not all vans more than two years old went up in value in July with car vans down by 5.8% (£110) to £1,795, fridges down by 3.0% (£83) to £2,667 and boxes and lutons down by 3.8% (£144) to £3,621.

Examples of average month-on-month variances in values for the vans of less than two years include car derived vans which fell by 13.7% (£746) to £4,692, small panel vans which fell by 6.9% (£506) to £6,861 and large panel vans >3.0t down by 7.1% (£561) to £7,331. In contrast, large panel vans <3.0t increased by 2.6% (£178) to £7,050 and 4x4s rose by 4.7% (£480) to £10,295.

Alex Wright, sales director for commercial vehicles for Manheim Auctions, said: “The early recovery in wholesale used van prices in 2009 does appear to have flattened out.
“We are now well into the seasonal period when values traditionally harden.

"This period usually begins as early as May yet throughout June and July we have seen consistently strong attendances both in the auctions halls and online with healthy bidding and high conversion rates. The marginal fall in average wholesale used van values of just 0.6% in July, following a fall of 0.5% in June, leads us to believe that there is still an underlying strength in the wholesale used van market.”

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