Used LCV values return to five figures, reports Manheim

Used LCV values at Manheim rose to their highest average selling price for the last year, while volumes also soared in September.

The new figures, published by Cox Automotive, reveal the average selling price hit £10,133 last month, a £404 increase compared to the previous six-month average and only slightly less than the same period in 2022.

At the same time, the number of LCVs sold through Manheim in Q3 rocketed 38% year on year to 17,344 vans, with more than three-quarters (77.8%) selling first time; up 5.6 percentage points.

Euro 6 derivatives made up 76% of all LCVs sold in the quarter and continued to attract the most attention from buyers. The average Euro 6 van sold was 49 months old with 68,736 miles on its odometer.

Euro 5 and older vehicles, which made up the majority of other stock handled in the period, are currently proving to be less attractive to buyers, with prices falling by an average of £288 versus the previous quarter. This is likely due to their age, mileage and condition and the growing number of Ultra Low Emission Zones, which mean more buyers are now avoiding non-compliant vehicles.

The level of used EV LCVs sold at Manheim locations also recorded a new quarterly record, with 133 selling between June and September. This represents a staggering 380% increase versus the last three-month averages. Overall stock profile is very different in this vehicle segment with average age and mileage being just 36 months and 15,593, and the average selling price £9,170.

Matthew Davock, director of Manheim Commercial Vehicles, Cox Automotive, said Q3’s performance reflected the positivity felt in the UK used LCV market throughout the year, which will likely be replicated for the final months of 2023.

“With the number of new van registrations growing steadily, and defleet volumes rising accordingly, it seems the cork is finally well and truly out of the supply bottle.”

He continued: “The overall LCV market has remained more than robust over the past 12 weeks and the quarter has certainly finished on a high note. Looking ahead, we are expecting the positivity to continue despite the likely easing of overall volumes as many fleets and rental operators hang onto vehicles to cope with the busy festive period. Despite this, the final stretch of 2023 is still set to be a busy and bumper period for UK commercial vehicle sales.”

Last month, Manheim extended its hybrid LCV sales programme with the launch of new physical sales at its site in Shotts, Scotland. On average, trade buyers are now some 58 miles from a Manheim commercial vehicle sale.