Print

Posted in:

Van values up at Manheim as age and mileage fall

The average selling price of vans sold by Manheim rose in April as falling age and mileage helped counter a downturn in buyer activity.

Vans ready for auction
Van values were up at Manheim in April, despite overall activity not being as strong as the same month in 2016 or the first quarter of 2017.

With the average age down seven months to 63 compared to April 2016, while average mileage fell by more than 10,000 miles year-on-year to 74,731, values rose by 13.8% year on year to £5,154.

Yet overall activity was not as strong as the same month in 2016 or the first quarter of 2017 due to the Easter holidays, with only 18 selling days.

Matthew Davock, head of LCV at Manheim, said: “Following a record first quarter in terms of the number of vans sold and records set for the average conversion rate at Manheim’s commercial vehicle auctions, ‘activity’ was the buzz word in April. While overall buyer footfall and clickfall remained healthy for a bank holiday period, it was slightly down on previous months, and many buyers have reported that April was the slowest retail month seen this year.”

However, Davock said Manheim is confident that buyer activity will remain healthy in the coming months.

He continued: “Condition remains key, as in April we saw a £461 year-on-year increase in damage on stock being returned and offered for sale. As we enter the time of year when seasonality plays a bigger role, we continue to focus our vendors on realistic reserve setting given current market dynamics, to ensure that they continue to enjoy healthy conversion rates.”

For more of the latest industry news, click here.

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.

3142 posts