An influx of high-mileage ex-fleet stock pushed the average price of a used van down in February, at auction firm Aston Barclay.
It’s the first time prices for used commercials have fallen since Q3 2019.
Prices dropped by 11.1% (£924) to £7,348, as average mileage rose from 92,000 miles in January to 104,000 miles in February. Average age remained at 61 months.
Many of the vans sold during February were higher mileage stock that leasing companies had been holding back, while others were extended contract vehicles that reached auction as their new 21-plate replacements were delivered.
“It was an odd month as it was the first price fall since Q3 2019, but demand for any age, make or model of van remained very strong,” explained Geoff Flood, Aston Barclay’s national LCV manager.
“It’s worth noting that even at £7,348 prices in February 2021 were 49.3% and £2,425 higher than Q1 2020, which clearly shows how the market has changed in such a short period of time,” he added.
In February, BCA announced record LCV values for the third consecutive month. It said the average monthly value across all LCVs rose above £9,000 in January, representing the highest average monthly value since the onset of the COVID-19 coronavirus pandemic in March 2020.
Double-cab pick-up prices rose during February by 6.9% (£831) on the back of a major fall in age and mileage by four months and 9,500 miles to 62 months and 56,000 miles. Stock also remains low, and it is a market that is constantly changing.
Despite the recent announcements that both the Nissan Navara and Mitsubishi L200 will no longer be available in the UK, used demand remains very strong.