The average price of used vans rose by 7.6% in the first three months of 2020 compared to the fourth quarter of last year, according to Aston Barclay.
The vehicle auction company said the increase of £350 from £4,573 to £4,923, before the Covid-19 lockdown forced the market to close down at the end of March, was helped by a fall in average age from 70 months in Q4 2019 to 64 months in Q1 2020 – although average mileage remained consistent at 105,000 miles.
Moving away from panel vans, Aston Barclay said double-cab pick-up prices rose by 5.6% (£524) from £9,233 in Q4 2019 to £9,757 in Q1 2020.
Aston Barclay said a shortage of stock in this sector had helped to keep values high despite a slight increase in average age from 65 to 67 months with mileage remaining constant at 70,000 miles.
Geoff Flood, Aston Barclay’s commercial vehicle sales manager, expects the used LCV market to bounce back once the lockdown is lifted.
“We believe the used van market will reset itself quickly once dealers and auctions are back open as LCVs will be at the forefront of getting the country back on its feet,” he said.
“We should remember that LCVs have been working hard during the lockdown, some working double shifts and covering thousands of miles each week.
“Operators will be looking to replace some of these vehicles, while a supply of new vans will be delayed as OEMs get their production facilities up and running, which may help used van prices.
“Reports are that many leasing contracts have been extended so we should see an additional surge of ex-fleet stock coming to auction a little later than expected in 2020, which will also help fuel used market demand,” he added.