Following January’s strong start to 2020, February volumes selling at wholesale declined by 15.6%, while increasing by 2.2% versus February 2019.
Although stock is plentiful, not all is in the best condition, resulting in all sectors recording decreases in sales over the previous month.
The average age of LCVs selling in February was 72.4 months, four months older 12 months ago, but three months younger than last month. Additionally, average first-time conversion rates over the past 12 months improved by 3.1% to 86.1%.
Average vehicle mileage stands at 76,665 miles, a decrease of over 5,050 miles on January and nearly 5,900 miles on February 2019. With the decrease in vehicle age and mileage, it is unsurprising that average sale prices for February increased. February’s average sale price was over £400 more than January and nearly £300 higher than at the same point last year.
Demand for small vans reduced during February – however, the average sale price increased by £100 on January. Tidy examples of Berlingo, Partner, Transit Connect, Combo, and Kangoo all held their value during the month.
The medium van sector saw February sales decrease by nearly 22%, with average sale prices also down by £22. Good levels of demand remain for the Transit Custom, with the Trafic, Vivaro, Dispatch, Expert, Proace and Transporter also performing well, when mileage and condition were in line with vehicle age. It was another strong month for crew vans, with the best examples selling well.
Sales of large vans decreased by nearly 16% in February, but average sales prices increased by over £60. Across this sector, demand continued for anything straight and tidy or sensibly priced. The Transit and Sprinter remain the most sought-after large vans, with the best-presented from rental sources eagerly snapped up. Later-plate Master, Relay and Boxer models have performed well, as have some 19-plate Movanos with extra equipment such as metallic paint, A/C and navigation.
The 4x4 pick-up sector saw sales decline by over 20% in February, but average prices were up by an impressive £500. Higher-specification models drove this sector along, with those with automatic gearboxes faring best. The Ranger Wildtrak, Hilux Invincible, L200 Barbarian and D-Max all attracted buyers. Older examples of the Navara, Ranger, D-Max/Rodeo, Hilux, L200 and Defender continued attracting buyers working to tighter budgets or with an eye on a project. Demand for basic-specification Defenders is starting to wane, with many hard-worked examples underperforming.
Andy Picton is chief commercial vehicle editor at Glass’s