Motor Industry News
MyCarCheck.com/Trade Used LCV Market Overview Feb 2014:
Van sector in flying start to New Year… business brisk, prices high
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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: “The LCV market was up to speed from the first day back in January, and just kept on going. This immediate return to brisk business was even faster than anticipated, and we see it continuing well into March. Prices will stay strong as the trade is desperate for clean stock.
“Caution must be the watchword for traders as the slightest bit of volume from one manufacturer can lead to a sizeable price slip. We witnessed this recently at a sale with a dozen new shape Vauxhall Combos. The prices were 30% down on guide values and only the lower mileage ones stirred any interest.
“In general, small vans are still OK. There are some Ford Fiesta vans around which are finding homes at the first time of asking, and the trade is happy to pay trade money for them. Anything with some specification is straight up to ready to retail value. Vauxhall Astra van values are still slipping as the model looks a little dated compared to other marques.
“Ford Transit Connect values remain steady as the retail market is keen on them – it is usually the case that a new model creates interest in the outgoing model. Volkswagen Caddy values are steady again now that the rush of stock has subsided, but 69PS models are still a problem as the retail man is not interested, almost regardless of price.
“Vauxhall Combo new and old models are around in some volume. Citroen Dispatch vans from a media company are slowing down a bit now, but there are a few 10-plate Vauxhall Vivaros coming from the same source – they will sell better than the Dispatches. Mercedes Benz Vito is having mixed fortunes with the trade very particular as to what model and mileage they select. Later ones are struggling a little, especially with no extras on them. Volkswagen Transporter values remain manic due to sky high demand.
“Ford Transit long wheelbase 350s are still in short supply. These always have the trade fighting to buy them as retail demand is good. Medium wheelbase Mercedes Benz Sprinter is very good news for traders, as are the long wheelbase variants, so long as they’re clean. However, the sister Volkswagen Crafter is struggling compared to the Sprinter. Renault Master and Vauxhall Movano are good news as there are so few in the market – they make good retail stock, something a bit different on the forecourt.
“As to chassis variants, tippers should be good news as we move towards spring, but they have to be tidy. The same goes for dropsides, but be careful on mileage as we’ve seen some with very high miles on them. Luton bodies have to be at least 12 foot long to get interest – anything smaller and the retail man would buy a van for less money and get better fuel consumption.
“The 4x4 market is busy, as it should be at this time of year, with Mitsubishi L200 a solid trade favourite. The nice specification and low mileage ones make really good money and the rest just go with the flow. There’s plenty of retail interest in Isuzu Rodeo too.”
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 van, car 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.