Autorola Indicates Continued Increase in Used Van Pricing
Autorola, an online remarketing company, has announced that the average selling price of used light commercial vehicles has risen dramatically, with third quarter of 2014 reflecting an increase of 4.5% over the second quarter of the year. The average price commanded was £10,986, an amount that reflects an all-time high.
Not only are the values increasing within the current year, Autorola indicated that there was a dramatic increase in the average selling price year over year, with sales number from 2014 at an astounding 28.9 percent over the third quarter of 2013. The increase is almost £2,500 over last year’s figures.
When asked what was behind the rise in prices, Neil Frost, Autorola’s UK operations director, pointed to both high demand and an improvement in the quality of the available used stock. He pointed out that the average age of the used vehicles being seen in their market place is only two years old, and the mileage averages just 26,937 miles.
“Earlier this year we saw prices balloon as lower quality stock flooded the marketplace, pushing the demand for newer, higher quality vehicles. SMEs are growing on the back of a resurgent economy, which continues to push demand and prices,” he said. “However, prices are beginning to level out. This is the smallest quarterly increase we have experienced in 2014, and we believe prices will remain stable in Q4 and Q1 2015.”