Motor Industry News
MyCarCheck.com/Trade Used LCV Market Overview Dec 2014:
A decent but challenging year… will volume finally arrive in Jan?
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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: “2014 was always likely to be a decent but challenging year for the used van market, and so it proved. We have constantly been asking: When is the volume coming and when will prices level out? We never did get the answers.
“Values are slowing now, almost certainly due to the time of year. As for volume, that surely has to arrive at the beginning of the New Year. During December, if you can afford to sit on stock for a few weeks then that might well be best. If buying, as always, if stock looks too cheap then there’s probably a reason.
“In the small panel van sector there has been a bit of volume. Some Vauxhall Corsa vans are about and finding homes. Ford Fiesta is thinner on the ground but there’s just enough to satisfy the marketplace. Values are sliding a touch on Fiat Fiorino and its sisters, Peugeot Bipper and Citroën Nemo, as we have quite a few in the marketplace – ones without a side loading door (SLD) are suffering the most.
“The marketplace is still dominated with Renault Kangoos from the demise of the parts business. Our information is we’re only halfway through the mountain of vans from that source. Values have dropped a touch, but the last batch will be the test. Volkswagen Caddy is also suffering from a bit of volume as 75ps models don’t seem at all desirable — to the extent that we’ve adjusted values down on that specific model this month. A nice Caddy in a good colour with some extras should still sell well. There’s also a bit of volume on Citroën Berlingo and its stable mates, which again is putting values under pressure.
“The Nissan NV 200 is generally considered to be a good reliable retail van. It is in the market now and values are under some pressure, but should ease as the volume subsides. Mercedes Vito is very popular and can sell at any age or mileage. Volkswagen Transporter remains the dominant model in the small panel van market, but as volume increases the gap between a bog standard van and a highline specification might well start to grow.
“Short wheelbase Ford Transits are also still popular and prices are standing firm. With the new Ford Transit Custom coming into the market, base model values are under pressure. A bit like the VW Transporter, retail buyers want some extras, so Trend and Sport models are great… if you can find one!
“Larger panel van sales are still going strong — the bigger the better as retail businesses are looking to carry as much as possible. Ford Transit long wheelbase or Jumbo, if tidy, should sell easily. Volkswagen Crafter is also usually a good seller, but these have to be clean and ideally with low mileage. A nice Fiat Ducato long wheelbase and high roof will likely have the trade fighting over it as they look to add something different to the forecourt.
“The 4x4 market is on the up. It’s that time of year and the average retail buyer will have a vast selection to choose from. Mitsubishi L200 is probably still the most common and best value for money, although Toyota Hi-Lux is a popular choice too. We are now seeing more VW Amarok in the market, with values a bit hit and miss. These look to be colour sensitive. Although metallic toffee brown is one of the best-selling colours in Europe, it is not such a winner here in the UK.”
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.