Motor Industry News
MyCarCheck.com/Trade Used LCV Market Overview June 2013:
Low mileage with damage easier to sell than high mileage vans
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MyCarCheck.com/Trade is the trade valuations arm of CDL Vehicle Information Services. Based on cutting-edge industry data and feedback from independent and franchised dealers, these monthly bulletins highlight the most significant trends in the UK light commercial vehicle (LCV) market.
MyCarCheck.com/Trade’s LCV expert, David Hill, commented: “There were signs in May that perhaps the used van market is slowing down for summer. Traders and retailers complain that there is still not the volume of stock they are used to, and also a lot of the same stock. We are seeing that high mileage turns the retail buyer away at the first hurdle. The trade will even buy low mileage stock with some damage, as it is easier to sell than high mileage vehicles.
“Retailers should note that VOSA are clamping down on van users, with 50% of vans now failing the MOT at the first time of asking. As well as being dangerous, taking shortcuts in the workshop just isn’t worth the risk of legal action, should any issues subsequently come to light.
“In the small van sector, a good supply of Volkswagen Caddy is enough for us to slow values by 1.5% this month, with the exception of DSG and Kombis as these are still good news. Ford Transit Connect has volume and is still finding buyers. Citroën Berlingo also has volume, but the choice of colours and specification means values are staying steady. Fiat Doblo in a good colour with a side load door will make ready-to-retail money if straight and good on the miles.
“In the panel van sector, Volkswagen Transporter continues to sell well, with 140bhp and DSG models the most desirable, along with Sport line models that sell for fun. The few Ford Transit SWB vans around are finding buyers and the ex-media vans with racking are well sought-after for retail stock. Similarly, the last of the Vauxhall Vivaros coming through from a well-known media company are still finding buyers. These also make good retail stock as the expensive wrapping has protected the vans.
“Larger panel vans need to be straight otherwise values will be well below our average price. Yellow and green vans look good value for money if appearance is low on your customer’s agenda. Mercedes Benz Sprinters are in incredibly short supply, especially those in good condition, and low mileage examples are virtually non-existent. VW Crafter models again have to be level to sell. There are a few Ford Transit long wheelbase vans in the market at the moment, but not enough to put values under pressure.
“In other sectors, chassis derivatives are good news and anything nice is in short supply. The 4x4 market is very slow, as it should be at this time of year, but we have reduced values on Mitsubishi L200s as volume is killing them – prices are expected to come back a touch later in the year. Isuzu D-Max is still good news and with the Isuzu Truck network happy to sell pickups, it is helping to keep values strong.
“The good news in the new market continues with the SMMT reporting that LCV registrations are up 11.8% on the year to date. What’s more, this trend looks likely to carry on through the rest of 2013.”
MyCarCheck.com/Trade provides buyers and sellers with all the vehicle price data they need: ready to retail, trade, average, retail and Cat D. As a free bonus, it also provides the annual road tax cost and key DVLA information, including the make, model, colour, engine size, body style, fuel type and date of registration.
Simply enter a car, van or motorcycle registration and the vehicle’s mileage to get an accurate valuation and additional information in an instant. Once signed up you can check as many vehicles as you like at no extra cost.
The MyCarCheck.com/Trade team includes:
Gavin Amos has 15 years’ experience in the used vehicle sector. After starting out at CAP he worked in several dealerships, progressing into management. He has hands-on experience of sourcing and disposing of stock, both to trade and retail customers.
Alan Senior has spent 34 years in used vehicle valuations. In 17 years at CAP he was Senior Editor for both the Black and Red books.
David Hill specialises in LCVs. He worked with Renault, LDV and Isuzu Trucks before spending 10 years as CAP’s Light Commercial Vehicle Editor then 5 years as national used vehicle sales manager for Iveco. He joined CDL in 2011.
Rob Hobson specialises in motorbikes and scooters. After leaving a dealer role to launch CAP’s Green Book, he worked in business development for Piaggio.
Gerry Clancy specialises in motor auctions. He has been selling trade valuation products since 1997 with both CAP and Glass’s.