While the headline price of used vans at auction has remained strong in May – rising by 9.2% over 12 months to £4,741 – the volume of smaller vans has increased by approximately 8%, while larger panel vans declined.
Looking at the market in more detail, according to Manheim, the average price of a five year old CDV has remained strong in May at £3,435. This is a fall of just £64 from its April figure, despite a monthly rise in mileage from 70,128 in April to 71,205 in May.
Similarly, small panel vans saw a rise in selling price of 8.5% to £4,811 in May, due to a fall in average mileage from 87,925 to 78,908. The average age of this van niche remains at 68 months.
Commenting on the findings, Matthew Davock, head of LCV at Manheim, said: ‘2014 has seen a continuation of the record levels of demand in the used van market. We have seen two months of significant year on year increases in van de-fleets; these vans have been snapped up by eager buyers looking to secure price range quality stock.
‘Interestingly, the mix of vans has changed over the past twelve months, with many more car-derived and small panels vans coming up for sale. Conversely, the lower volumes of larger panel vans we're seeing is, we believe, driving a shift in buyer behaviour toward smaller vehicles.
‘Right now, buyers are behaving in a typical seasonal fashion; focusing their attention on the cleanest stock and being far more selective on higher mileage and damaged product. I encourage vendors to ensure this stock is presented in its best possible light, with mopping and improved valeting ensuring buyers see them in their best light. Sensible reserve setting will ensure realistic conversion rates and days in stock are achieved,’ he added.