Used van market returning to normal
Analysis from Manheim suggests that the UK used van market is well on the way to shaking off the effects of the recession. According to the company, the industry is still seeing a high proportion of older vans at auction, but this pattern will be less evident during 2015. Based on new vehicle sales data, the research provides a unique overview of rolling used van availability, by tracking the feed of stock into the market since 2005
While data from the SMMT confirms that new van sales will have risen to approximately 316,000 in 2014 (from a low of 186,000 in the recession of 2009), natural market equilibrium between age categories of vans has still not yet been achieved.
James Davis (photo), head of commercial vehicles at Manheim, explains: “Manheim believes that this chronic shortage of vans entering the market has driven the remarkably strong prices seen at auction. When looking back at the shape of the industry in 2008, before the recession hit, the wholesale van market was stable in terms of age and mileage profile. Today's marketplace, in comparison, is almost unrecognisable. Despite selling an all-time record proportion of older vans, average prices have continued to rise. Since 2006 average van values have increased just over £1,400, or 45%, despite being nine months older and having travelled 12,000 more miles”.