Average values of used vans falls, reports NAMA

The average value of used LCVs at auction across the board decreased from £4,907 to £4.749 between January and February, reports the National Association of Motor Auctions (NAMA).

Volumes saw an 8.6% increase, and the average age of LCV’s sold at auction fell to 68.6 months.

The average number of days that LCVs remained on site declined to 15 days, and the average mileage decreased from 84,617 to 82,650 miles.

At 10,566 the total number of LCVs sold at auction in February continued to grow across all age bands. The total sales volume was an impressive 23% above the figure posted by this same month last year.

Alex Wright, chairman of NAMA commercial vehicle group, said: “The data presented in this latest NAMA LCV report suggests that there is still a healthy level of demand for most light commercial vehicles.

"In February, an 8.6% increase in volume led to modest price falls yet, as average age reduced slightly with mileage falling sharply a better result would have been hoped for.

“Despite February having bounced back after a patchy start to 2015, there have been several subtle changes as to what used stock is currently in demand.

"Scruffy, high-mileage LCVs more than four years old took the biggest hit which was to be expected as the demand witnessed over the past 24 months for such hard-used lots was driven solely a lack of more desirable alternatives.

“With 2014 posting an LCV sales increase close to 19% with the first two months of 2015 delivering growth above 20%, the greatest impact on prices will be exerted by soaring van and pick-up registrations.

"From this point onwards its business as usual with growth in the wider economy hopefully leading to sufficient demand to keep pace with the ever-higher volumes being de-fleeted.”

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