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Used van prices rise by 26% in 2020

Average prices for used vans have risen 26% in 2020 so far, in a sector that shows “no signs of cooling off” according to Aston Barclay.

Q3 prices rose by 4.2% to £6,204; a 26% price rise  from a Q1 average of £4,923

The auctions specialist’s latest figures show Q3 prices rose by 4.2% (£255) to £6,204.

That equates to a 26% price rise in 2020 from a Q1 average of £4,923.

In Q3 the rise in prices came about despite average age and mileage increasing quite dramatically to 68 months and 105,648 from 60 months and 96,090 miles in Q2.

Both these increases can be attributed to vans working harder since lockdown and replacement cycles being delayed while new vans were unavailable.

And double-cab pick prices rose on average in Q3 by 4.7% (£488) and have risen by a total of 9.2% (£900) since Q1 2020.

Aston Barclay added that with the continued growth of online shopping, sectors such as home delivery continue to grow at a frightening pace which will further fuel used van demand.

“The market has never seen a 26% rise before and from the high demand and lack of supply we are continuing to experience at auction the van price boom will continue into 2021,” explained Geoff Flood, Aston Barclay’s national LCV manager.

“We are also hearing that some new vans are suffering from long lead times which will mean prolonged replacement cycles and heavier demand on used vans which will keep prices sky high,” he added.

 

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Written by Natalie Middleton

Natalie has worked as a fleet journalist for nearly 20 years, previously as assistant editor on the former Company Car magazine before joining Fleet World in 2006. Prior to this, she worked on a range of B2B titles, including Insurance Age and Insurance Day.

Natalie edits all the Fleet World websites and newsletters, and loves to hear about any latest industry news - or gossip.

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