Economic pressures felt in February’s used van market

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Used vans continued to realize near-record costs at BCA auctions final month, however exterior financial pressures are beginning to alter purchaser conduct.

Common values remained above £10,000 for the third consecutive month, with values averaging 101.2% of information costs throughout the board.

Whereas demand stays strong for autos in the most effective situation, BCA says skilled patrons are a lot much less smitten by autos with beauty or mechanical points, and these autos have gotten very value delicate. 

Stuart Pearson, BCA COO UK , mentioned: “Exterior financial components are more and more having a larger impact on the broader used LCV market, which is basically pushed by the wants of the small enterprise and impartial dealer sectors. 

“These companies will undoubtedly have been underneath strain all through the pandemic and are actually having to take care of rising rates of interest, elevated power and gas prices and the widespread cost-of-living squeeze.

“Whereas an LCV is a obligatory software of the commerce for a lot of small companies, we have now seen demand from skilled patrons hot-up for autos in the most effective situation which is pushing up values for the most effective ready, increased grade autos, however creating strain on decrease grade, older, increased mileage autos that want beauty or mechanical refurbishment earlier than sale.

“It is a good time to remind sellers that the remarketing fundamentals stay as necessary as they ever have been.  The place acceptable, mechanical and beauty repairs will add worth and enhance first time conversion, whereas the appropriate stage of preparation, an correct appraisal, correct descriptions and transparency round car provenance will all contribute in the direction of attaining optimum worth and pace of sale.”

Following on from the report worth of £10,812 seen in January, February maintained the constant run of sturdy values seen all through current months, averaging £10,441 – the second highest month-to-month worth ever recorded. 

Yr-on-year values for February 2022 have been forward by £1,015 (10.8%) in comparison with February 2021 when the nation remained in lockdown. 

In November, the UK’s new van market notched up a sales record, ending the month 11.4% forward of the pre-pandemic common for the month.

Provide shortages have led to lengthy ready occasions for brand new van orders and consequently high values achieved by vans in the used market.



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