Average values of used light commercial vehicles (LCVs) at auction rose in August to £4,150, an increase of £176 or 4.5% from the July figure. Despite the previous 5% fall in values from June to July, the latest monthly Market Analysis from Manheim confirms the continuing upward trend for used LCV values.
Looking at the year on year comparison (August 2011 to August 2012), average LCV values have jumped by 7.3% or by £281. Month-on-month sold volume variance figures showed August to be the 12th negative month in a row, proving that whilst used vans are now harder to find, demand is broadly in line with this reduction in supply.
Year-on-year, while values rose across six LCV segments (notably buses, car vans and panel vans under 3 tonnes), five sub categories (including tippers, large panel vans over 3 tonnes and 4×4s) saw falls in value.
James Davis, director of commercial vehicles at Manheim Remarketing, said: “In August 2012 alone, buses increased in value by 32%, driven by a longer term trend that has seen their average age and mileage fall at auction. Conversely, tippers lost over 18% in value during the month, despite their average mileages falling by 2,187.”
Looking at the month-on-month trends in more detail, car vans have seen a jump in value of £341, while the ever popular small panel van saw an appreciation of £120. Tippers saw a huge drop in value of £945, while values for Boxes and Lutons fell by £729.
Davis continues: “These monthly figures are an interesting reflection of what’s happening in industry at the moment. SMEs are looking to downsize their fleets wherever possible – literally using smaller vans that are more likely to run at capacity than their larger alternatives, hence the ongoing popularity of this type of vehicle. With continuing uncertainty in the construction sector, it’s no surprise that we’re seeing the value of vehicles such as tippers fall consistently.”