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