Used Van Stats Continue to Look Good
The statistics coming from used van auctions continue to bode well, as this month’s numbers from the National Association of Motor Auctions (NAMA) showed more increases in average values across the board. Average prices rose by 2.2%, from £4,839 to £4,645 in the month between June and July. In addition to values, volumes also increased by a steady 3.8 percent, while the average age of LCVs sold fell to 63.9 months. Vans were moving out more quickly also, as the number of days that light commercial vehicles remained on the site for sale dropped to 14.3 days, and the mileage on the vehicles dropped 3.5% to 81,393 miles on average.
The 2.2% increase seen in used van prices across the board was echoed in the light commercial vehicle category, as those prices rose from £4,839 to £4,945 and the number sold at auction also increased by 329 vehicles, again echoing the sales volume increase of 3.8%.
According to the Alex Wright, chairman of NAMA Commercial Vehicle Group, “Despite predictions that with increased volume, prices would decrease, we are seeing the opposite happening. July saw volumes up by 20% and prices up by 19%. The economy is growing and this is reflected in the commercial market. The eight year and over market has dominated the sector for a long time, starving buyers of younger stock, but the yellow line is finally shrinking and later plate vehicles are slowly appearing. We predict this trend will continue and four-five year old vehicles will take over as more enter the market. Once again the market data presented in this NAMA report illustrates the underlying strength of demand for LCVs a all years and clearly bodes well for sales prospects over the coming months.”