Average values within the CV sector increased by 2% throughout January 2015, according to Manheim’s latest market analysis.
Compared with December 2014, the average van value at auction rose by nearly £100; showcasing the ongoing buoyancy within the market.
January 2015 saw 30% more vans at auction in comparison with the same month of last year. There was also an increase in the number of desirable three-to-five year old stock models entering the market; a trend Manheim predicts to continue throughout the first quarter of 2015.
34% of car derived vans sold had an average age of 92 months, while a further 28% averaged 41 months. The small van sector followed a similar pattern; 47% of those had an average age of 100 months, with a further 24% having an average age of 42 months. This pattern was repeated across the portfolio, giving January’s market two tiers and reiterating the fact that ageing stock still has an active role to play in shaping market conditions.
Matthew Davock, head of light commercial vehicles at Manheim, comments: “January has seen both a growth in stock and, in most cases, an increase in values too. With an uplift in volume, we’ve also seen a record amount of duplicated stock enter our sales this month, which has given our buyers options they just didn’t have in 2014. Typically, when volume is high, the first two areas to feel the strain are damaged stock and duplicated stock – and we’re already seeing signs of this. Because of this, my advice to vendors is to ensure the vans offered are of the best possible standard. It’s been said before but condition really is king when it comes to obtaining excellent value in the CV sector, so vendors should really make sure to put their best foot forward when it comes to displaying their stock.
“Throughout January, the footfall at auction sites and the number of buyers online have both remained incredibly healthy – with auction halls up and down the country still buzzing with action. Buyers are saying that retail activity has been very good throughout the first part of the year. As a result, they are keen to fill their forecourts and scour the country to source specific stock.”