Motor Industry News
MyCarCheck.com/Trade Used LCV Market Overview Sept 2014:
Market picking up and prices stable but stock shortages persist
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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 August market picked up towards the end of the month and we expect this trend to continue through the rest of the quarter and towards the end of the year.
“According to the SMMT’s July statistics, new LCV sales were down by 25% year on year. This shouldn’t overly concern the used market for now, but we are already seeing yet more stock shortages. This means that used van prices are likely to remain high.
“September should see more buyers in the market, although some leasing companies are telling us they have no great volume coming before the end of October. With the odd exception, prices should remain steady until then.
“In the small van sector, the few Ford Fiestas and nice metallic Vauxhall Corsa vans in the marketplace were soon swept up into the trade. There are a few Vauxhall Astra vans around again and a nice Sportive derivative, even with big miles, will quickly find a home.
“The few Citroën Nemo and Peugeot Bipper models around are selling, especially those with side loading doors and a few extras. A Ford Transit Connect is generally good news for traders, however, with such limited volume over the past few months, really nice ones in Trend or Limited specification will reach Ready to Retail values. We have also had some new model Connects in the market and even non-franchised dealers seemed keen to snap these up.
“The panel van market is still buoyant with Volkswagen Transporters achieving some incredible prices. We have increased values on the whole range this month. New Ford Transit Customs are appearing quite frequently now, often from daily rental sources or early terminations. The leasing companies know these are in demand so you’ll have to work hard to own one. Citroën Relays, long or short, are also doing well. If tidy, these will easily go into Trade values.
“The marketplace for larger panel vans remains busy. We have some Jumbo Ford Transits in two colours looking excellent value for money and even some with damage are selling well. The long wheelbase Mercedes Benz Sprinter is in demand, and not particularly mileage sensitive. On the other hand, Volkswagen Crafter, unless in 'out of the box' condition, are just not seeing the same demand. We have therefore reduced trade values on these this month.
“We have recently seen the very first new shape Ford Transit in the open market. Although there was plenty of interest, it didn’t meet the seller’s valuation at the first offering, so they stuck to their guns and moved the van. The fact that some imports don’t carry the European standard warranty didn’t help it.
“The 4x4 market is still slow, as it usually is at this time of year. However, this has been matched by lower volume than we’ve seen for a while in this sector. We are confident these sales will pick up as we move towards winter. Stocking up now could prove costly as if we have some volume then prices should fall.”
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.