Those that have looked to purchase a commercial van lately might have found themselves slightly surprised at the price, especially compared to the years gone by. The cost of commercial vans is on the rise, and this is due to a few factors, so it is important for business owners to be prepared for this if they are in the market for a new commercial van for their operation.
The Increase in Demand
The primary reason why commercial vans are rising in price is that there has been a sharp increase in demand, which will always drive-up prices. This follows a significant dip in demand during the COVID-19 pandemic and subsequent lockdowns, which saw many people unable to work and furloughed. With life returning to normal, many builders and other similar professionals have found themselves in need of a commercial van and this has caused the spike in prices.
Material Shortages
Another reason why commercial vans are more expensive than they were during the height of the pandemic is the fact that there have been material shortages as a result of supply chain issues disrupted by the pandemic. The shortage in computer chips, rubber and metal has slowed all new vehicle production resulting in a further increase in demand in the used vehicle market.
Are Vans Safer to Drive?
Safety is always an issue when it comes to driving any kind of vehicle, but it has been a major problem when it comes to
commercial vans. Not only are there more vans on the road with the rise of the on-demand economy, but commercial vans often result in more severe accidents due to the fact that they are taller, heavier and have stiff structures compared to regular passenger cars. Improved safety tech can make commercial vans safer, but commercial van drivers need to take great care when on the roads. If you ever get into an accident that was not your fault, you should speak to
personal injury lawyers who will be able to help your case, regardless of this you should ensure you have in place
any driver van insurance, suitable for business owners.
Price Comparisons From 2020 – 2022
The rise in prices of commercial vans is evident with statistics from 2020 and 2022. Buyers are now paying on average
33% more compared to 2020 with the average selling price of £11,004 in January 2022 for a used van.
It is clear that the average cost for a commercial van is currently much higher than it was during the pandemic, and this is largely due to demand. The increase in people working along with supply chain issues have put greater strain on the commercial van market causing prices to increase, so this is something that motorists need to be aware of when looking to buy a van for work.
