The monthly Market Analysis from Manheim shows that although the average value of vans at auction has increased over the year, last month’s prediction that the market may have hit a glass ceiling, appears to be coming true.
Figures from the company’s latest Market Analysis show that the average value of vans dropped by £78 compared to April 2013.
However, looking at the market from the same time last year, the average resale price has actually risen by £216 (5.2%).
This fall in values during May was despite a one month fall in the average age of the vehicles at auction, which dropped from the all-time record high of 63 months recorded back in April.
Looking at the month-on-month trends in more detail, large panel vans (over three tonnes) saw their values rise, alongside messing units and buses.
However, the most dramatic rise was witnessed in the refrigerated vehicle section, which saw prices reach £4,050, which is up by £1,311 from April. May also witnessed a decrease in the average vehicle mileage in all but three segments.
James Davis, director of commercial vehicles at Manheim Remarketing, said: “We need to treat this apparent fall in used van values carefully, as the poor weather and the usual seasonal lull has no doubt held back retail sales.
“The statistics show that the most significant fall in values was among tippers and car vans, however both segments have seen an influx of older vehicles come onto the market since last month.
“Year-on-year, Manheim’s May market report supports the view that the used LCV market remains fairly buoyant overall, in terms of average selling price, as it rose for seven of the segments.
“This rise in value sits alongside a rise in the vehicle age and an increase in mileage, which means that demand for good quality vehicles remains high.
“Last month, I wrote that perhaps the wholesale van values have hit a glass ceiling and it would certainly appear that this theory continues to ring true when looking at this month’s market analysis.”