The used van and double cab pick-up markets have performed strongly over the last year with average prices up by 5.2% (£227) and 13.5% (£1,036), respectively to £4,533 and £8,666 between Q1 2018 and Q1 2019.
According to Aston Barclay’s first LCV market insights report, the 9% increase in new van registrations during Q1 2019 continues to provide an excellent range of used stock coming into the market.
Average prices of used vans sold at Aston Barclay increased to £4,533 in Q1 2019, up £386 from £4,147 in Q4 2018, based on mileage rising 2,604 miles to 96,706 miles, and average age reducing dramatically to 68.2 months from 80.3 months in Q4.
The firm added that much of the changing profile of used fleet vans hitting the auctions can be put down to the introduction of the London ULEZ zone, which has forced companies to speed up their replacement cycles and buy Euro 6 vehicles while the Transport for London (TFL) scrappage scheme is forcing some older stock into the market.
The double cab pick-up sector has also been impacted. Prices rose year-on-year to £8,666 in Q1 2019 from £7,630 in Q1 2018, but saw a dramatic fall when compared with Q4 2018 (£11,074).
This was caused by the average age of stock in Q1 2019 increasing by 20 months from 61.3 to 81.3 months and mileage increasing from 57,109 (Q4 2018) to 80,278 miles, a rise of 23,169 miles.
Aston Barclay predicts in Q2 and Q3 the age and profile of used vans and double cab pick-ups will start to return to a more consistent level, particularly from southern vendors.
“The market continues to perform solidly with prices remaining firm despite larger volumes of used vans coming into the market from strong new van sales in Q1. Euro 5 vans are in demand as they are good value when compared with in-demand Euro 6 vans, particularly in the south of the country,” explained Martin Potter, group managing director, Aston Barclay.
“Similarly, the used double cab pick-up market remains strong with good quality vehicles finding SME buyers that utilise vehicles for both business and recreation,” he added.