Motor Industry News
MyCarCheck.com/Trade Used LCV Market Overview March 2014:
Fresh stock snapped up but 14-plate should bring another influx
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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: “February started with a few fresh bits of stock in the market that were quickly snapped up by the trade. As the month progressed, stock got shorter and shorter, with just the run of the mill stuff around. Values have remained steady and perhaps we’ve reached a crescendo in terms of prices. That’s by no means a negative comment: the trade are saying they cannot ask any more for retail stock, yet they are still having to give good money to get stock in because it’s in such short supply.
“March sees the first registration plate change of the year. The 14-plate should bring another influx of fresh stock. We feel this will be towards the back end of the month as most manufacturers have longer lead times and waiting lists for some models. Why they feel the need to discount all the profit out of them only they know! This month we’ve raised values slightly pretty much across the board.
“In terms of small vans, Ford Fiesta and Vauxhall Corsa are usually the main vans in this sector, but there are very few in the market right now as the trade have snapped them up. As always, Sport and Sportive models are an easy sell, with some traders having orders to fill for used ones. Citroën Nemo, and its sister vans, are all doing well, especially those with a side loading door and Bluetooth. With Ford coming into this sector with Transit Courier, other manufacturers are sure to up their game.
“Citroën Berlingo and Peugeot Partner are in the market and sought after by both retail and trade. Again, a side loading door or double passenger seat can be deal breakers. As reported last month, Ford Connect is still selling well. Even in utility orange over white, these vans are finding homes at average values. Trend and Limited vans are straight into trade or even ready to retail values. Volkswagen Caddy is having mixed fortunes: very late ones from daily rental are struggling to get above average values, but a 2008 104bhp model in a nice colour will command trade value.
“In terms of larger panel vans, Volkswagen Transporter is still the star of the show, with even high mileage examples making silly money. Caution has to be shown on run of the mill white 84bhp models with no specification though. Short wheelbase Ford Transits are still good news, especially later models, but a nice 2006 pre-facelift model with sensible miles will still be desirable as the trade look for price range stock. Everybody’s got vans at £8995 retail, but there are retail customers with less than £5000 to spend who must also be served.
“In the chassis derivatives sector, lack of supply continues to drive up prices. We have seen some Toyota Dyna examples coming into the market place and the trade lapped them up. We have increased their values by about £500 this month.
“The 4x4 market should be busier than it is. Export activity on some vehicles might be giving a false impression of the market. The only downward movement this month is on Mitsubishi L200. As this model is so popular new, we have plenty of choice used in the marketplace.”
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.