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Used values down in February
Date: Friday, March 18, 2011
Average used van values fell by 2.8% in February following three consecutive monthly rises.
According to Manheim Remarketing, average age increased by two months compared to January to 52 months and mileage was up by 1495 to 75,124 miles.
Year-on-year values in February were just 0.2% (£10) up while average age was two months lower but mileage higher by 1228 miles.
Most market segments lost value in February but car-derived vans bucked the trend with a rise of 3.1% to £2732 compared to January.
Small vans fell by 4.3% to £3852, medium vans were down 6.8% to £3727 and large panel vans slipped by a marginal 0.8% to £4157. Tipper values dropped by 10.7% to £5318.
Manheim said age and mileage increased significantly in all sectors apart from large panel vans.
Manheim’s group commercial vehicle auctioneer Tim Spencer was upbeat about market prospects.
“The auction lanes throughout the country remain full of buyers as demand is still strong especially for vehicles in the £2500 - £4500 price range while late year, low mileage vehicles continue to attract lively bidding because of their short supply.”
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