The wholesale van market has hit the ground running in 2021, with record year-on-year price performances and the second highest monthly average sales price on record.
The latest Commercial Vehicle (CV) tracker, released by Cox Automotive and analysing data collected by Manheim, shows the average selling price of £8,768 was up by an unprecedented 36% since the start of 2020 and up by 3% (+£241) from December 2020. Compared to the latter, vans sold in January were typically 1.3 years younger with 1,880 more miles.
January also marked the second highest monthly value on record, following October 2020’s £8,936 peak.
CV tracker data also reveals that January’s conversion rate was very strong, falling just 4% from 86.7% to 82.7%, compared to January 2020. The average selling price for Euro 6 vans grew 25% (+£2,443) while Euro 5 vans recorded an average price increase of 32% (+£1,370); both despite increases in average vehicle age.
The findings align with the latest data from the SMMT, which revealed UK van registrations were 2% ahead year-on-year, with the most significant reductions in pickups and vans below two tonnes.
Matthew Davock, director of CV at Manheim, said the data paints a picture of strong performance amid challenging times for the market.
Davock commented: “Despite uncertain conditions, these are unprecedented record-breaking performances from the wholesale van market. As we would expect in a seasonal market, it is the older, more damaged and highest mileage vans that typically soften in terms of price and conversion rates. We believe Euro 5 has found its price point, still significantly higher year-on-year, whilst Euro 6 promises to remain in the highest demand.”