The average selling price of vans sold at Manheim in January reached its strongest figure in eight years despite a 24% increase in volumes.
Last month saw the average selling price reach £5,576, a rise of 9% year-on-year and 3.2% on December. The firm also recorded a 24% year-on-year increase in vans offered, exceeding its previous predictions of higher volumes during the first quarter.
Conversion rates were slightly down by 6% compared to the same month in 2015, but Manheim said this was to be expected with the 24% increase in volume and the strong buyer activity in December, with vendors selling right up until Christmas.
The average age and mileage of vans sold during January fell year-on-year, with age dropping by one month and mileage by 5,751 miles, with the average age of vans sold being 59 months with an average of 73,815 miles on the clock.
Matthew Davock, head of LCV at Manheim, said: “We sold more vans in January than we have for six years, with sold volumes 18% above the same month in 2016. Given that we have also witnessed slight degradation in overall return condition – with average recorded damage £368 up year-on-year – and higher duplication of stock, our sales performance and increase in selling price is a fantastic result for our clients.”
He added: “Optimism and strength are our watchwords for the van market, having recorded volume and average selling price at their highest levels for eight years. In February, extra focus should be put on realistic pricing of duplicate, late-plated and damaged stock to ensure buyer engagement and conversion rates remains high.”
