The used van market went through the roof during Q2, with prices rising by 20.8% (£1,026) to £5,949 to an all-time record level.
The figures from Aston Barclay show that increased demand and fewer vehicles in the market led to a dramatic rise in competition for stock, particularly when franchised dealers opened for business on 1 June, and prices took off.
Demand has been seen across all types of vans and chassis cabs, even a £3,000 van with £2,000 of damage sold above book. The exception is 9-seat minibuses as they do not work currently for operators based on current social distancing rules.
Double-cab pick-up prices also rose in Q2 by 4.2% (£312) on the back of a marked fall in average age and mileage to 60 months and 65,000 miles. Stock remains in short supply, but replacement cycles are now consistently at five years, which vendors consider as their optimum contract length.
“We don’t know when the prices will stabilise, although moving into July prices have cooled slightly as supply has started to improve,” explained Geoff Flood, Aston Barclay’s national LCV manager.
“However, there is likely to be a shortage of stock during the summer as OEMs get production levels back to normal before fleets kickstart their replacement programmes,” he added.