‘The August market picked up towards the end of the month and we expect this trend to continue through the rest of the quarter and towards the end of the year,’ explained MyCarCheck.com/Trade’s LCV expert, David Hill.
‘According to the SMMT’s July statistics, new LCV sales were down by 25% year on year. This shouldn’t overly concern the used market for now, but we are already seeing yet more stock shortages. This means that used van prices are likely to remain high.
‘In the small van sector, the few Ford Fiestas and nice metallic Vauxhall Corsa vans in the marketplace were soon swept up into the trade. There are a few Vauxhall Astra vans around again and a nice Sportive derivative, even with big miles, will quickly find a home.
‘The few Citroën Nemo and Peugeot Bipper models around are selling, especially those with side loading doors and a few extras. A Ford Transit Connect is generally good news for traders, however, with such limited volume over the past few months, really nice ones in Trend or Limited specification will reach Ready to Retail values. We have also had some new model Connects in the market and even non-franchised dealers seemed keen to snap these up.'
The report also highlights the buoyancy of the panel van market: ‘Volkswagen Transporters achieving some incredible prices. We have increased values on the whole range this month. New Ford Transit Customs are appearing quite frequently now, often from daily rental sources or early terminations. The leasing companies know these are in demand so you’ll have to work hard to own one. Citroën Relays, long or short, are also doing well. If tidy, these will easily go into Trade values,' said Hill.
‘The marketplace for larger panel vans remains busy. We have some Jumbo Ford Transits in two colours looking excellent value for money and even some with damage are selling well. The long wheelbase Mercedes Benz Sprinter is in demand, and not particularly mileage sensitive. On the other hand, Volkswagen Crafter, unless in “out of the box” condition, are just not seeing the same demand. We have therefore reduced trade values on these this month.
‘We have recently seen the very first new shape Ford Transit in the open market. Although there was plenty of interest, it didn’t meet the seller’s valuation at the first offering, so they stuck to their guns and moved the van. The fact that some imports don’t carry the European standard warranty didn’t help it.’