CommercialFleet

Used van prices rise 26% with no sign of cooling off, says Aston Barclay.

Aston Barclay van remarketing

Used van prices sold through Aston Barclay rose 4.2% (£255) to £6,204 in Q3 – an increase of 26% compared to Q1.

The remarketing company said there is no sign of the market cooling down as it enters Q4, as the continued growth of online shopping and home delivery further fuels demand for vehicles.

The figures follow a similar trend to that identified by Shoreham Vehicle Auctions last month, which predicted record prices for the rest of 2020 and into 2021.

Manheim also recorded another record-breaking LCV sales performance in August, bucking the traditional seasonal slowdown and setting an all-time average selling price record.

Geoff Flood, national LCV manager at Aston Barclay, said: “The market has never seen a 26% rise before and from the high demand and lack of supply we are continuing to experience at auction, the van price boom will continue into 2021.

“We are also hearing that some new vans are suffering from long lead times which will mean prolonged replacement cycles and heavier demand on used vans which will keep prices sky high.”

Aston Barclay said the rise in prices in Q3 came despite average age and mileage increasing quite dramatically to 68 months and 105,648 from 60 months and 96,090 miles in Q2.

Both these increases can be attributed to vans working harder since lockdown and replacement cycles being delayed while new vans were unavailable.

Not to be outdone double-cab pick prices rose on average in Q3 by 4.7% (£488) and have risen by a total of 9.2% (£900) since Q1 2020.

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