The finance provider for vehicle dealers and auctions explains that positive economic news is feeding through to the LCV market, with the SMMT forecasting a new record of 355,000 new sales in 2015. The last record was set back in 2007 at 337,000. Next Gear Capital claims that ithis is clear evidence that businesses of all sizes are gearing up and that ‘white van man’ is ready to help drive the UK economic recovery.
This year’s new LCV sales will not join the wholesale auction market for the next three to five years. In the meantime, stock shortages reported by NextGear Capital’s partners look set to continue and this means that even older LCV stock could have real retailing potential, according to Manheim Auctions.
Indeed, over half of the 3.8m vans on UK roads are over seven years of age. Commenting on the opportunity for used vehicle sales, NextGear Capital’s sales director Nigel Warrington, said: “We can see that many LCVs do not stay ‘on our Stocking Plan’ for long for our dealer customers. LCVs are a definite opportunity for dealers right now."