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Ford Transit factory shutdown ‘will affect used market’
Date: Thursday, April 29, 2021 | Author: Sean Keywood
Problems facing the production of Ford’s Transit van are set to contribute to increased used van values in the UK, according to auction firm Aston Barclay.
The Transit is made at a factory in Turkey which will see production stopped until mid-June.
The global motor industry is facing widespread challenges from a shortage of semiconductors, a vital component in modern vehicle making.
A Ford spokesperson said: “At Ford Otosan, the Gölcük facility will shut down from 19 April through 13 June, which includes pull ahead of two planned weeks of annual summer shutdown and a national holiday week in Turkey.
“We continue to monitor the situation and work on mitigation plans over the coming weeks and months as this fluid situation develops.”
According to Aston Barclay, a potential delay to new van production will fuel a continued challenge the used market is facing from demand outpacing supply of used vehicles, which is said to be forcing prices up to record levels, while conversion rates from recent sales are between 92% and 100%.
Aston Barclay national light commercial vehicle manager Geoff Flood said: “The Ford factory shutdown news is a blow for the new and used market as it will prevent a supply of much needed used vans hitting the auctions.
“Demand for every age, mileage, make and model of light commercial vehicle has been strong over the past two weeks. You can ignore the used value guides as vehicles are making what dealers are prepared to pay to secure the van.
“Some vans have gone under the hammer for two to three times reserve and this trend will continue until such time as we see factories re-open and used supplies improving.”
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