Auction Values Remains Steady For Clean and Well-Specced Vans
- May 7, 2019
- Posted by: John Swift
- Category: Automotive Industry
Demand for used vans has remained steady and values for clean, well-specced stock are generally holding firm despite extra supply from record new registrations in 2016 coming back.
Glass’s reports that the medium van sector took the lion’s share of auction buys last month. The Ford Transit is still suffering from oversupply but well-presented stock will sell. Previous generation Vivaro, Trafic and Dispatch, Expert and Proace with the higher trims should find buyers quite easily but lower spec VW Transporters need air-conditioning to maintain demand.
Higher spec sells in the small van sector too which accounted for almost a third of March auction sales but oversupply is hitting some prices here as well. Entry level Ford Transit Connect and Vauxhall Combo values are coming down as availability goes up but in contrast the Ford Fiesta Sportvan is performing well, partly because it is in shorter supply. Prices are generally stable for higher spec VW Caddy, Ford Transit Connect, Vauxhall Combo, Citroen Berlingo and Peugeot Partner and forecourt-ready Vauxhall Corsavan, Renault Kangoo, Fiat Doblo, and previous generation Ford Transit Connect continue to sell.
High mileage and evidence of a hard life are taking their toll among large vans but short and medium wheelbase vans in decent condition will sell. VW Sprinter and Ford Transit in metallic will fetch higher prices.
Market volume and values up year-on-year
Overall, the March LCV auction market saw around 10,000 units transacted, up one percentage point on a year ago and the average price stood at £6,430, up 1.5% year-on-year. The average age/mileage profile was 65 months/75,000 respectively.
The impact of the Ultra Low Emission Zone in London is starting to have an effect on sales in and around there with the lowest emission vans easier to sell but so far the effect is limited geographically to the capital – for now.
A Glass’s spokesman said: “Record registrations three years ago are driving the current increase in stock availability. Additional auction sales across the country are helping to clear the volume. Tired looking damaged or high mileage stock remains difficult to sell with buyers preferring vehicles in showroom condition. Euro 6 stock values in the London area are strengthening, as more buyers become aware of the Ultra-Low Emission Zone. In other parts of the UK, buyers remain happy trading in Euro 5 stock.”