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SMEs to power used van market in 2010

Sales to trades people who lacked the financial resources or business confidence to commit to a new vehicle during the recession will power the used van market in 2010, says Broadway Motor Company.

The GE-owned business, which has six used van centres across the UK says that the key emerging market for used vans can be found among small-medium sized businesses.

Ian Griffiths, Broadway national sales leader, said: “We had a pretty good 2009 considering the state of the economy but towards the end of the year and into 2010, we have seen a general increase in business and hardening in values.

“The key factor powering this trend is the return in numbers of SMEs to the used van sector, with the majority of buyers being among the trades people who form the backbone of the UK economy. It’s heartening to see.”

Griffiths explained that confidence among trades people seemed to have returned to a point where they were not yet comfortable with buying or leasing a brand new van but were happy to commit to a high quality used vehicle.

He said: “We specialise in three-four year old car derived vans, short and long wheel base vans, minibuses, MPVs, tippers, flatbeds, crew cabs, Luton box vans and trucks – very much the heartland of the commercial vehicle sector.

"What we are seeing is SMEs coming to us with vehicles that are on their last legs and which have been nursed through the recession. They now feel confident enough to buy a much better vehicle and see a quality used van as the best solution."

Broadway Motor Company has branches in Neasden, Manchester, Stoke on Trent, Rotherham, Derby and Billingham.

Griffiths said: "Certainly, we feel as though we are entering 2010 with cautious optimism. The used van and truck sector is in better shape than at any time in the last couple of years and we may even open at least one new centre in the next few months."

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