{"id":6183,"date":"2014-05-13T06:07:10","date_gmt":"2014-05-13T06:07:10","guid":{"rendered":"http:\/\/www.vanrental.co.uk\/vanblog\/?p=6183"},"modified":"2014-05-13T06:07:10","modified_gmt":"2014-05-13T06:07:10","slug":"used-van-prices-fall-in-april-as-supply-improves","status":"publish","type":"post","link":"https:\/\/www.vanrental.co.uk\/vanblog\/archives\/6183","title":{"rendered":"Used van prices fall in April as supply improves"},"content":{"rendered":"

Average used van prices\u00a0fell by 2.9% in April — the first time prices have fallen since September last year, according to new figures from remarketing specialists BCA.<\/p>\n

However,\u00a0residual values for vans remain strong, and BCA’s April average sale price of \u00a35,395 was the second-highest on record since 2005.<\/p>\n

\"BCA

BCA used van prices, March 2012 April 2014 (graph courtesy of BCA)<\/p><\/div>\n

To keep the month-by-month changes in context, it’s worth remembering that\u00a0April’s\u00a0average used van price was 7.9% higher than one year ago, while\u00a0average age was unchanged at 58\u00a0months, and average mileage was up by around 3,000 miles:<\/p>\n\n\n\n\n\n
All vans<\/strong><\/td>\nAvg Age (mnths)<\/strong><\/td>\nAvg Mileage<\/strong><\/td>\nAvg Value<\/strong><\/td>\nSale vs CAP<\/strong><\/td>\n<\/tr>\n
Apr 2013<\/strong><\/td>\n58.78<\/td>\n76,999<\/td>\n\u00a34,998<\/td>\n101.38%<\/td>\n<\/tr>\n
Apr 2014<\/strong><\/td>\n58.52<\/td>\n80,187<\/td>\n\u00a35,395<\/td>\n100.90%<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

(Data courtesy of BCA –\u00a0www.bca-europe.com<\/a>)<\/em><\/p>\n

Return of normality?<\/h3>\n

In my view, this year’s strong growth in new van registrations<\/a> could finally trigger a return to normality in the used market, albeit over a period of 6-9 months.<\/p>\n

As I suggested in April<\/a>, it’s\u00a0rarely possible to call the top or the bottom of a market, but a good sign\u00a0that things might be about to change is when people starting describing an exceptional situation as ‘normal’…<\/p>\n

Discussing these results, Duncan Ward, BCA’s General Manager – Commercial Vehicles,\u00a0said:<\/p>\n

“The market slowed over the extended Easter and May Bank Holiday period and sale conversion rates have fallen back.\u00a0 Volumes have risen quite noticeably, meaning there is more choice for buyers and this has impacted on average values.\u201d<\/p>\n

\u201cThere are signs that sellers are being more pragmatic about values, as performance against CAP declined noticeably compared to March. Dealer part-exchange vehicles saw performance fall around four points down to 102.0%, with corporate vehicles falling by two points to 100.5%.\u201d<\/p><\/blockquote>\n

It’s too early to say, but\u00a0with average used prices up by 26%\u00a0since April 2012, it would be unsurprising if they took a breather in the face of improved new van sales and, perhaps, more confident sentiment and a new willingness to take on financing.<\/p>\n

As always, watch this space.<\/p>\n","protected":false},"excerpt":{"rendered":"

Van prices slipped back by 2.9% in April — has the used market topped out in the face of rising new van registrations?<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[8],"tags":[624],"_links":{"self":[{"href":"https:\/\/www.vanrental.co.uk\/vanblog\/wp-json\/wp\/v2\/posts\/6183"}],"collection":[{"href":"https:\/\/www.vanrental.co.uk\/vanblog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.vanrental.co.uk\/vanblog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.vanrental.co.uk\/vanblog\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.vanrental.co.uk\/vanblog\/wp-json\/wp\/v2\/comments?post=6183"}],"version-history":[{"count":2,"href":"https:\/\/www.vanrental.co.uk\/vanblog\/wp-json\/wp\/v2\/posts\/6183\/revisions"}],"predecessor-version":[{"id":6187,"href":"https:\/\/www.vanrental.co.uk\/vanblog\/wp-json\/wp\/v2\/posts\/6183\/revisions\/6187"}],"wp:attachment":[{"href":"https:\/\/www.vanrental.co.uk\/vanblog\/wp-json\/wp\/v2\/media?parent=6183"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.vanrental.co.uk\/vanblog\/wp-json\/wp\/v2\/categories?post=6183"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.vanrental.co.uk\/vanblog\/wp-json\/wp\/v2\/tags?post=6183"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}