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Van sale values hit new record in October

By / 2 weeks ago / News / No Comments

Average van sale values at Manheim reached a new high in October, with shift to online buying also picking up pace.

Manheim reports record month for LCV prices

Manheim reports record month for LCV prices

The remarketing giant reported a record average van selling price of £5,749 – up 18% year on year despite average damage increasing over the same period by 26% to £870. Average age stood at 59 months – down four months on the same period in 2016 and with 3,000 fewer miles.

The firm said the strongest results were seen in the £4500-£6500 sale bandings, where vans achieved an uplift of just over 3% year-on-year.

The rise in values came as van de-fleet volumes continued to soften during October, with a further 4% reduction compared to prior month and a 18% reduction compared to August 2016.

Manheim also reported a 100% year on year growth recorded in online-only auction events. When combined with Simulcast online bids in physical auctions, the group’s figures revealed that 86% of LCV sales during the month attracted an online bid, with 38% of all vans sold to an online bidder.

Matthew Davock, head of LCV at Manheim, commented: “As we enter November, the question is when the historic annual spike in supply will hit. Vendor feedback indicates de-fleet volumes are expected to rise, but whether this will roll over into Q1 2018 is still a consideration.”

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Natalie Middleton

Natalie has worked as a fleet journalist for 14 years, previously as assistant editor on the former Company Car magazine before joining Fleet World in 2006. Prior to this, she worked on a range of B2B titles, including Insurance Age and Insurance Day. Natalie works across the magazine portfolio and updates the company websites with daily news, interviews and road test content.