Age concern

Manheim Auctions’ latest Commercial Vehicle Market Bulletin reports an emerging trend of a seasonally disproportionate increase in the average age of used vans. Manheim has compared the results in May with March of this year. Most vehicle segments have been affected to some extent with three showing an increase in average age of five months and one by as much as seven months:

Small panel vans are 5 months older (46 to 51 months).
Large panel vans (sub 3.0t) are 5 months older (59 to 64 months)
Large panel vans (over 3.0t) are 5 months older (56 to 61 months)
Tippers are 7 months older (49 to 56 months),

Price re-alignments between March and May were reported in three segments: £397 lower for small panel vans, £312 lower for large panel van (over 3.0t) and £922 lower for tippers. Interestingly, car derived vans have actually bucked the trend during this period with average prices rising by £286 from March to April before falling back by £177 in May. However this is still £109 higher than in March.

During the same three month period, average mileages were relatively stable in most segments with just a couple of exceptions. Average mileages rose by 2,226 in the large van segment over 3.0t while those in the car derived sector fell by 2,613.

Stocking days since March for car derived vans rose by only one day to 16 days while small panel vans rose by only 3 days. Large panel van (over 3.0t) actually fell by 5 days and tippers fell by a total of 11 days, partly explained by the seasonality that affects this segment.

Commenting on the report, Alex Wright, Sales Director, Commercial Vehicles at Manheim Auctions said: “While there is no doubt that the general market has been adversely affected by the current economic climate, at Manheim Auctions we are experiencing broad regional fluctuations in buyer activity and demand. The trend that we have identified of increasing average age coupled with increased levels of damage and higher levels of duplicated stock will impact sale values.”