Used van prices increased by 0.3% (£11) in December in comparison to November and although it’s a small increase, it marks the fifth rise in a row, according to Manheim Auctions.
Compared with December 2008 average wholesale used van prices are actually up by 46.3% (£1,170) with average age up by three months to 56 months and average mileage 6,691 miles higher at 76,855.
Examples of the increases in average month-on-month values in December include car vans up by 26.9% (£453 to £2,139), boxes and lutons up by 7.8% (£307 to £4,250) and 4x4s up by 2.7% (£168 to £6,428).
Decreases in values include car derived vans down by 8.5% (£219 to £2,359), small panel vans down by 3.3% (£138 to £4,001), large panel vans less than 3.0t down by 2.9% (£105 to £3,494) and large panel vans greater than 3.0t down by 5.3% (£202 to £3,632).
Alex Wright, sales director, commercial vehicles, Manheim Auctions, said: “The scale and speed of price movement that has been witnessed over the past 18 months in the wholesale used van marketplace is unprecedented.
“Despite the economic environment, the used van marketplace has remained robust with average used van values having increased by almost 50% in the last 12 months, despite age and mileage being higher year-on-year. The outlook for the used van market remains very positive as we enter 2010.
“Although economic and business confidence is returning, new commercial vehicle registrations will take time to recover which plays into the hands of the used van market as the continued shortage of supply will keep values high.”