Average wholesale used van prices fell in May by 2.8% (£126) compared with the previous month.

This is the first decline in used van values in nine months.

Average prices have fallen in just three of the last 15 months illustrating the underlying strength of the market.

Compared with May 2009, average wholesale used van prices are actually up by 37.3% (£1,165) despite an increase in average mileage of 3,294 miles to 70,004, according to Manheim Remarketing’s latest monthly analysis, which reports that the current average used van value is £4,290.

James Davis, general manager, commercial vehicles, Manheim Auctions said: “A combination of an increasingly tough market, rising volumes and the re-emergence of the traditional softening of demand at this time of year has resulted in the first decrease in average values for nine months.

"Manheim has seen an increase in de-fleet volumes due largely to the implementation of several major daily rental fleet replacement programmes. Given the time of year and increase in supply, the pressure on prices will continue so it is more important than ever that vendors stay close to the market and react to price movements.”