Motor Industry News
MyCarCheck.com/Trade Used LCV Market Overview Oct 2014:
Smaller van values dip but overall very strong Q4 sales predicted
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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: “September started off slowly and rose to a crescendo that will, we feel, carry on until the end of the year. Some leasing companies are telling us that extra stock is on its way, but even that’s going to be quickly swallowed up if the retail market remains this strong.
“With the new tax disc rules now in force there should be less kerbside dealers turning vans over for a few hundred pounds, and therefore less competition for retail dealers.
“In the small van sector, some Vauxhall Corsa models in blue or white have brought values down this month. Volume here is always a delicate issue so perhaps it is just as well Ford Fiesta is currently thin on the ground. Peugeot Partner is in the marketplace with some very late plate models, but these are struggling – mainly because of the great deals you can get on a new one and its sister van, the Citroen Berlingo.
“Car derived van values are also slowing a touch, mainly due to volume in the market. Ford Transit Connect is still the trade and retail buyer’s first choice. Volkswagen Caddy is having mixed fortunes: a 140bhp model with DSG gearbox is very desirable, but run-of-the-mill models are struggling.
“The small panel van sector is perhaps the most buoyant of all, with the star performer being the Volkswagen Transporter. This month we have opened the gap on some models as trade and retail buyers are happy to pay more for bigger engines or better specification. Ford Transit is still strong and we’ve had some Trend models in red which have risen in price by over £750 since entering the market at the end of August. Ford Transit Custom models look to have found their level now but we have increased Crew variant values this month. The few Citroen Relay models in the market are finding homes first time – expect to pay trade money for a nice colour.
“In the larger panel van sector, anything long and high is going to sell. The nicer it is, the better, but with some long wheelbase 61 plates with over 200,000 miles making very close to ready to retail values, it shows just how desperate the trade is for these vans.
“In terms of chassis derivatives, anything with a Luton body is going to sell well, along with long dropsides. Watch out for crew cabs with no rear seats as a few leasing companies specify them with a toolbox instead.
“The 4x4 market is picking up and a bog standard 4x4 single cab can currently make as much as its well spec’d double cab version. A word of caution here, as soon as we get some volume these prices might well falter.”
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.
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.