Average van values at Manheim set a new record in August, achieving both the strongest ever selling price for the month and record year-on-year percentage growth.
Figures from the remarketing giant show the average van selling price in August rose to £5,192; up 1.9% from the figure of £5,094 for July and also up 10.5% year on year. This was despite average damage increasing over the same period by 40% to £965; £278 higher than the same month in 2016.
The increase in values came as both age and sales volumes fell. On average, vans sold by Manheim in August 2017 were 60 months of age, four months younger than the same month in 2016, with identical average mileages. Van de-fleet volumes were down 3% compared to the previous month with a 4% reduction compared to August 2016.
August also saw Manheim post record year-on-year growth in buyer audiences. The number of buyers attending physical auction events rose by 10% whilst online buyer attendances jumped by 19%. In line with this, average conversion rates hit 81% in August; an 18% increase compared to August 2016.
Matthew Davock, head of LCV at Manheim, commented: “As we enter September and the 67-plate change, vendor feedback indicates de-fleet volume will be very similar to August. With retail activity likely to rally post-holiday season I expect this to further fuel what could be another record-breaking month, leading into a storming final quarter.”For more of the latest industry news, click here.