Motor Industry News
MyCarCheck.com/Trade Used LCV Market Overview April 2014:
High values and shortage of stock, especially on larger panel 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: “March was as predicted with most values remaining high. Watching the trade trying to buy stock at auction can be soul destroying. Just when they think they’ve given all the money and bought the van they want, the internet bidders come in and bid more. As always, anything different with low mileage will sell well. The trade is scouring the market for price range stock, which is increasing in value due to scarcity. April will continue along these lines.
“In terms of small vans, the general shortage of good quality stock continues, so values remain steady. Vauxhall Corsa is about but only in light blue, yet these are still finding homes. With Ford Fiesta, if you see one it’s gone, with older models being sold to fill the gaps. Vauxhall Astra van values are down a touch as the few in the market are high on miles and looking their age, but if you see a 150bhp SE Sportive you will have to give all the money to buy it.
“Citroen Nemo, Fiat Fiorino and Peugeot Bipper values are down this month as there’s plenty of choice in the market. Air con models or ones loaded with extras are an easy sell to retail buyers. Citroen Berlingo and Peugeot Partner values are steady and the same goes for Renault Kangoo vans, despite a bit of volume in the market. Older model Kangoo and Partner vans are very good news. Fiat Doblo is just holding but any more volume and prices will fall.
“Fiat Scudo values are down a little this month as we are still getting plenty of stock from the media company as well as some light blue models. Mercedes Benz Vito is still sought after and stock is short – even very high mileage versions are finding homes as long as they’re tidy. A full service history always helps.
“Volkswagen Transporter models are still in demand with Crew Van and Shuttle very popular with retail customers. Vauxhall Vivaro and Renault Traffic are seen as reliable workhorse vans and, as such, they remain popular with retail buyers. The announcement of a new model always raises the demand on the outgoing one.
“The market for larger panel vans is extremely buoyant, with long wheelbase Ford Transit in especially short supply. The trade is even looking at damaged vans to fill the retail demand, although an influx of Jumbo vans in yellow and green is coming. These vans are nice on the miles but often have damage due to the nature of the business they’re in.
“There’s demand for the Mercedes Benz Sprinter but the trade are only paying full whack to fill confirmed orders. Fiat Ducato long and high vans are popular, partly because buyers cannot find a comparable Transit. Tidy and reasonable mileage LDV Maxus will sell – they look good value at the moment.
“In terms of chassis cab models, Ford Transit long wheelbase dropsides and tippers are very much in demand. There are very few around so you’ll have to give all the money for them. Most other chassis cab models are the same, with a shortage of almost everything. Mercedes Benz Sprinter fridge vans from the home shopping market are selling, but well behind average values.
“Due to the lack of snow this year there’s plenty of choice in the 4x4 market. Values have remained steady this month, although new tax implications will slightly increase the cost of running a double cab pickup. There are a few Great Wall Steed models around and the trade is happy to take a chance on them, at the right price. We’ve reduced values by about £500 this month in line with those we’ve seen sold.”
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.