Autorola has revealed that the average price of used light commercials sold through its online platform have risen by 15% in just 12 months.
From 2012 to 2013 the average price of used vans sold by Autorola has risen from £6808 to £8020, the largest increase in the company’s eight years in the UK.
That is despite average mileage of vans increasing by nearly 1,400 miles to 31,707 during that period and on average stock is predominantly two to three year old. This compares to an average increase of £161 (just under 2%) to £8,323 for used cars sold online.
Jon Mitchell, of the company, said: “We have experienced more LCV vendors signing up to use the online platform including Volkswagen which has a strong brand following within the used market.”
“A growing number of franchised LCV dealers and independents have also registered as buyers look to source fresh stock for their forecourts.
“All of these factors have combined to offer a greater number and more diverse range of used vans to a growing number of buyers,” he added.
The growth of online has been dramatic as three to four years ago the used LCV industry bought and sold all of its stock through physical sales channels. But the growth of online selling across consumer and B2B channels and the increase in buyer confidence has meant vendors sell some or all of their stock online.
“Buyer confidence is key and across the group we have identified the greater level of detail needed by LCV buyers including more detailed descriptions of the vehicle for sale including damage, repair costs and specialist bodywork or equipment fitted,” explained Mitchell.
“We believe the number of LCVs being bought and sold online will continue to grow. One major benefit is that the vehicle does not move until we deliver it to the new owner. That cuts out the normal delivery cost incurred of getting a vehicle to auction and we are delivering a vehicle to its new owner within just a couple of days of them buying it and paying for it online,” he added.