Motor Industry News
MyCarCheck.com/Trade Used LCV Market Overview May 2014:
Values steady, demand high and business brisk after Easter lull
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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: “As usual, the used van market slowed down over the Easter period. A few hardy buyers were still out looking for those elusive bargains, but they were mostly left disappointed; although business slowed down, prices didn’t decrease.
“This month we have kept the majority of prices steady. The exception is the 4x4 double cab market, where we have made some adjustments - the majority being down - but that’s only to be expected at this time of year. Many traders are still looking for price range stock that unfortunately isn’t price range any more as everybody wants a slice of it.
“In terms of small vans, even some older examples are finding homes easily, with Ford Fiesta leading the way on availability. There are a few Vauxhall Corsa vans about which are easily finding buyers, both trade and retail. Peugeot or Renault small vans are likely to go quickly as they are rare. Citroen Berlingo is about in volume but values look to be holding firm. The older models are still good news as these fall into the price range category for buyers looking for cheaper stock.
“The batch of red Fiat Doblos coming into the market look very good value for money and normal Doblo is still sought after too. Again, values are steady. Ford Transit Connect is still the number one choice for the retail buyer in this sector, with Trend and Limited models the best sellers.
“In the Fiat Scudo and Peugeot Expert segment, the trade is largely able to pick and choose the best ones. They all tend to sell eventually.
“Short wheelbase Ford Transits are currently in as much demand as their longer wheelbase stablemates. There’s plenty of interest in the new model Transit Customs coming through, and these are achieving trade values. Volkswagen Transporter is still the number one van on everybody’s shopping list and mileage doesn’t frighten the buyers off, unless it’s a really tatty one.
“There’s strong demand in the large panel van sector too, as supply is short. However, any sign of volume will quickly distort the values until the volume subsides. The recent sharp burst of long wheelbase Mercedes-Benz Sprinters was soon mopped up by the market. A long wheelbase Ford Transit is still the one the trade looks for first.
“There are a few Transit Jumbos around in yellow and green which are nice on the miles, just a shame about the colour. The trade is bidding behind average values to accommodate the cost of a repaint.
“4x4 values are down this month with the exception of the Ford Ranger, as there are less of these about. Mitsubishi L200 is the biggest loser as there are a lot of them in the marketplace right now. Nissan Navara is going off the boil as export enquiries have dried up, and the same can be said for the Toyota Hi-Lux.”
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.