Used van values stabilise
05 July 2011
A degree of stability returned to the used van market in May as average values fell by just 0.3% to £3841 following heavier falls in the previous three months.
According to Manheim Remarketing, average age increased by a significant four months to 57 months compared to April and mileage was up 967 miles to 76,062.
Compared to May 2010, however, values were 10.5% down with age five months higher and mileage up 6058 miles.
Car-derived vans dropped 5.5% in value to £2561 month-on-month, small vans fell 2.4% to £3887 and 4x4s dipped 4.7% to £6831.
On the other hand medium vans were up 3.1% to £3723 and large vans increased in value by 1.3% to £3921.
Manheim's CV boss James Davis said the four month swing in average age reflected "the reduced influence of volumes from daily rental sector consolidation and the diminishing affects of recent high profile corporate business failures".
Overall he said year-on-year used van sales were up 30% on 2010.
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