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Used van sales strengthen in May – Manheim

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Average used van prices rose by 7.3% in May compared to the same period last year, according to auction group Manheim.

The company said that the average used van price achieved in its sales during May was £5,040. That’s 7.3% higher than May 2016 and 10.4% higher than in April, which was disrupted by a number of Bank Holidays.

As usual, average age and mileage both fell last month. The average age of vans sold at Manheim was 63 months, down by four months from May 2016. Average mileage was 77,431, 3.6% lower than in May last year.

According to Matthew Davock, Manheim’s head of LCV, damaged vans remain a challenge. Davock says that the average value of damage recorded in May was £834, 17% higher than in May last year. The variable condition of vans offered for sale means that appropriate pricing is essential, he says:

“Vendors whose reserve pricing reflects these crucial factors are rewarded with buyer loyalty and market leading performances. ”

The group has seen good customer demand at its newly-extended Gloucester auction facility, but Davock sounded a cautious note about demand, noting that Manheim’s buyers had described April and early May as “the toughest months of the years”.

Lower levels of de-fleeted vans may help to support demand in June and there are no Bank Holidays. It will be interesting to see what next month’s figures show.

1 thought on “Used van sales strengthen in May – Manheim

  1. Pingback: Used van market set for record summer — Manheim | Van News: The VanRental.co.uk Blog

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