{"id":9768,"date":"2017-04-19T15:50:01","date_gmt":"2017-04-19T15:50:01","guid":{"rendered":"https:\/\/www.vanrental.co.uk\/vanblog\/?p=9768"},"modified":"2017-04-19T15:50:01","modified_gmt":"2017-04-19T15:50:01","slug":"record-used-van-prices-mask-changing-market-conditions","status":"publish","type":"post","link":"https:\/\/www.vanrental.co.uk\/vanblog\/archives\/9768","title":{"rendered":"Record used van prices mask changing market conditions"},"content":{"rendered":"
\"BCA

BCA Blackbushe van auction March 2017<\/p><\/div>\n

Used van prices fell slightly in Marcn\u00a0but remain\u00a0at near-record levels,\u00a0according to the latest auction sales figures from BCA.<\/p>\n

The average priced achieved for a light commercial vehicle at auction was \u00a36,526 in March, down by just \u00a323 from \u00a36,549 in February.<\/p>\n

March’s\u00a0average sales price is the second highest on record and means that used van values are 11% (\u00a3647) higher than they were one year ago.\u00a0Of course, part of this is due to falling\u00a0average age and mileage.\u00a0Buyers today are getting a new van than they were one year ago.<\/p>\n

On a year-on-year basis, average age was down by five months in March, while average mioleage was down\u00a0by about 7,800 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>\n<\/tr>\n
Mar 2016<\/strong><\/td>\n55.50<\/td>\n73,838<\/td>\n\u00a35,879<\/td>\n<\/tr>\n
Mar 2017<\/strong><\/td>\n50.95<\/td>\n66,037<\/td>\n\u00a36,526<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

Source: BCA<\/em><\/p>\n

“Weakened” market<\/h2>\n

Duncan Ward is BCA’s LCV Operations Director.\u00a0He struck a surprisingly downbeat note when discussing the figures for March:<\/p>\n

\u201cAverage selling price data might suggest a buoyant market, but the reality is the market has weakened and conversion rates have been under pressure. BCA\u2019s profile of stock is becoming younger and lower mileage and this is a significant driver of the increasing values we report.\u201d<\/p><\/blockquote>\n

Ward emphasised that variations in quality and specification are\u00a0leading to a two-tier market:<\/p>\n

“Well specified commercials in retail-ready condition are making exceptional values, while vehicles with an unusual configuration or special equipment will always attract attention from buyers.\u00a0 In contrast, any LCV available in high volumes, perhaps with damage and a basic specification will have an uphill battle to attract interest.\u201d<\/p><\/blockquote>\n

It sounds to me as though the\u00a0market is starting to\u00a0be more favourable for buyers than sellers.\u00a0Competitive deals and cheap finance on new models mean that\u00a0some buyers will be tempted to trade up to new rather than paying over the odds for used.<\/p>\n

In the meantime, sellers hoping to dump sub-standard stock in to the market will have to accept\u00a0lower prices, giving buyers who need\u00a0a cheap workhorse\u00a0another option to consider.<\/p>\n","protected":false},"excerpt":{"rendered":"

Used van prices remain at near-record levels according to BCA. But the market is changing and conditions are getting tougher for sellers.<\/p>\n","protected":false},"author":2,"featured_media":9769,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[8],"tags":[624,1740],"_links":{"self":[{"href":"https:\/\/www.vanrental.co.uk\/vanblog\/wp-json\/wp\/v2\/posts\/9768"}],"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=9768"}],"version-history":[{"count":3,"href":"https:\/\/www.vanrental.co.uk\/vanblog\/wp-json\/wp\/v2\/posts\/9768\/revisions"}],"predecessor-version":[{"id":9772,"href":"https:\/\/www.vanrental.co.uk\/vanblog\/wp-json\/wp\/v2\/posts\/9768\/revisions\/9772"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.vanrental.co.uk\/vanblog\/wp-json\/wp\/v2\/media\/9769"}],"wp:attachment":[{"href":"https:\/\/www.vanrental.co.uk\/vanblog\/wp-json\/wp\/v2\/media?parent=9768"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.vanrental.co.uk\/vanblog\/wp-json\/wp\/v2\/categories?post=9768"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.vanrental.co.uk\/vanblog\/wp-json\/wp\/v2\/tags?post=9768"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}