Motor Industry News
MyCarCheck.com/Trade Used LCV Market Overview Nov 2013:
Price rises continue - will a typical 3 year-old van soon cost £6K?
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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: “Prices remained high throughout October and the trade has started to question how high they will go. BCA has stated that the average selling price is now around £5,100 for a typical three year-old van, and the signs are this could go as high as £6,000 by this time next year. All this is driven by a stock shortage, yet the retail market is quieter than we would expect. Where are all these expensive vans going?
“We have left most values level this month to see what happens in November.
As always, nice, different and top specification vans are easy sellers, but the margin is getting tight for the retail seller as buyers are squeezing every last penny out of the deal.
“In terms of small vans, there are very few Ford Fiesta or Vauxhall Corsa models around, so customers will pay the price. Volkswagen Caddy is having mixed fortunes – some sell well, some are struggling. It is all about demand on the day but with the evidence we have, we have pulled Caddy values back 2.5% this month. We have also seen possibly the first Azure Dynamic electric van sell in open sale. The result wasn’t as bad as some predicted – it still sold for a lot more than a comparable Diesel version.
“For mid-size vans, Citroën Dispatch and Fiat Scudo are still good news, with even older versions being well sought after. Mercedes Vito is again good news – those with metallic paint and extras still sell with big miles on them. We’ve seen some late low-mileage Ford Transit short-wheelbase stock coming into the market and selling well. Volkswagen Transporter continues to be popular and Kombi is excellent news – put the word Sport before either and prices soar. Lead times mean that Volkswagen dealers can push the price up a little on Sport Van and demand is high, but be sure it is the original and not a van conversion.
“A shortage in the larger panel van market means that demand outstrips supply at the moment. Long Wheelbase Transits in clean condition and with Euro V Engines on 13 plates are fantastic news, difficult to buy at anything less than ready to retail values. Even some Transit Jumbos in yellow and green are gaining a following, as they are generally tidy and good on the miles. It’s a similar story with Mercedes Benz Sprinter. We are now seeing a few more Renault Masters in the market – mostly the new shape. Although they still look fresh we have a few more than we need, so values have been pulled back by 3% this month. Iveco Daily is good news too: with no silly deals at the front-end, what is in the market is selling well.
“In terms of Chassis models, Lutons are fine whatever the badge or miles, and it’s the same for drop sides. Tippers have to be clean, with mileage and colour further down the list of customers’ requirements.
“The 4x4 market is picking up and this is a sector where buyers have massive choice. Land Rover Defender and Discovery commercials are what they are, but the choice on the rest is vast. One commercial sale we visited recently had more Mitsubishi L200s in than Mercedes Benz Sprinters, so we have had to bring back L200 values by 5% this month, although the snow will come and values should recover.”
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 35 years’ experience in used car valuations. After a decade running a franchised dealership he spent 20 years at CAP where he was Senior Editor of the Black and Red books and co-founder of the Green book, then two years as editor of Parkers Guide before co-founding VIP Data valuation services.
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.