Used van prices and volumes rise as seasonality returns to LCV market

COMPARED to May, used van prices rose by 5.7% (£259) in June, while volumes were up by 38% over the same period in 2014. This is according to the UK’s number one commercial vehicle auction company, Manheim, who saw a record number of vans in its sales in June, which was a strong month for average selling prices and conversion rates. Market performance in June was focused on two market sectors, the car-derived van sector and the small panel van sector, which together made up 59% of total volume. Prices for small panel vans were up 8.2% from May, in line with the used commercial vehicle market as a whole. This was despite the average age of used vans in the market decreasing slightly (1.5%), as mileage increased by a small amount (2.4%), reflecting the 20% increase in daily rental stock seen in the auctions. Other highlights included large panel vans, which performed particularly well in June in terms of average selling price, as there is still a shortage of stock available in this sector. Vans below three tonnes made up just 6% of volume last month, with a steep increase in selling prices of 14.9% compared to May. Matthew Davock, Head of LCV at Manheim, said: “As I have been predicting all year, summertime seasonality has begun to impact the van market. With stock shortages in the last two years ramping up demand, the impact of seasonality has been minimal. However, for many of us who have witnessed historic seasonality over the last ten or more years, what we are seeing right now is not unusual in the van world. “June’s record month-on-month sold volume spike proves the market is still in rude health, but duplicate stock and damage are the issues impacting conversion rates. I would encourage all vendors to prepare, price and engage with Manheim to get our expert views around the market and other vendors week-by-week.”