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Van selling prices fall but conversion rates rise in March

Average selling prices for vans fell at Manheim in March although the speed of van sales rose.

manheim
Average selling prices fell in March, although the speed of van sales rose.

Latest figures show the average selling price of all vans sold at Manheim in March was £5,298, compared to £5,443 in February. However, age and mileage both increased month-on-month by three months and 2,000 miles respectively to 63 months and 75,000 miles. Year-on-year, the average selling price in March was up by 11%, with age and mileage being recorded 4 months and 7,000 miles lower compared to March 2016.

Conversion rates increased by 3% from February, despite a 6% increase in volume offered. Rates were also up year-on-year, rising to in excess of 70% compared to around 60% in March 2016.

Matthew Davock, head of LCV at Manheim, said: “Volumes decreased in March from February, and in my opinion this softening – for the first time in five months – is a good thing for the market. We expect buyer demand to continue to be positive during April, with conversion rates continuing to increase. In April, we are encouraging vendors to focus on the same core factors of reserve pricing, duplication, late plate and heavily-damaged stock. If these are priced accordingly, high conversion rates will no doubt follow.”

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Written by Natalie Middleton

Natalie has worked as a fleet journalist for 16 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. As Business Editor, Natalie ensures the group websites and newsletters are updated with the latest news.

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