Motor Industry News
MyCarCheck.com/Trade Used LCV Market Overview June 2014:
Rise of ‘No VAT’, long wheelbase demand & volume hits 4x4 prices
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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 May LCV marketplace has been slow, but with two bank holidays that was always likely to be the case. Volume has risen and some prices have started to stall, but it doesn’t look like the market will slide too much over the summer months.
“At auction, the 'No VAT' section has almost started its own micro marketplace. Many dealers now have 'No VAT' areas and some now deal exclusively in 'No VAT' vans. Looking at the prices they are paying for stock, our research shows these are often no cheaper than 'Plus VAT' stock, but perhaps easier to retail.
“In the small van market, there is still a shortage of stock and prices are steady. The better the specification the easier it is to sell, but you still have to give all the money to buy this stock. With Citroen Nemo and its stable mates being joined by the new Ford Transit Courier, the small panel van section is starting to carve out its own niche in the market. This suggests that Vauxhall were correct in stopping the very popular Astra van.
“Renault Kangoo still looks good value for money with the Maxi a better buy and models with two side loading doors and the plus specification selling especially well. Mercedes Benz Citan is available from Mercedes dealers, with very few of them in the open market. Even some Mercedes dealers have lowered the prices to move them on. Peugeot Partner and Citroen Berlingo are about in numbers, but just enough to feed the retail market.
“In terms of medium size panel vans, this sector is still dominated by the ex-media Citroen Dispatches with good low miles (and clean body work after the full wrap has been removed). They will continue to come into the market for a while yet, but values are remaining firm with these and the sister vans.
“As soon as a Toyota Hi-Ace comes onto the market it is quickly snapped up by the trade as they have such a loyal following. Mercedes Benz Vito still good news for dealers but mileage is crucial to the price.
“Volkswagen Transporter is still the number one van in the 1 tonne market, with Sportline and Highline models the best sellers and Kombi close behind. New Ford Transit Custom models are starting to feed into the market with good prices being paid. As with the outgoing Transit, Trend models are the preferred specification. Vauxhall Vivaro and Renault Trafic vans are still great news for dealers as nice low mileage examples sell quickly.
“There continues to be huge demand for larger vans. The trade is looking at Vauxhall Movano and Renault Master long wheelbase models, as the Ford Transit long wheelbase just isn’t available in the volume required. It will probably remain this way until the new model starts to come through. Mercedes Benz Sprinter vans are about in just the right amount, but they have to be almost out of the box condition to achieve trade values.
“The 4x4 market is suffering at the moment and we have adjusted most values down again this month. Volume is the killer as even the elusive Volkswagen Amorak is now starting to appear on a regular basis. For a Mitsubishi L200 you can almost pick your colour on the day, there are so many 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.