Motor Industry News
MyCarCheck.com/Trade Used LCV Market Overview Feb 2015:
Plenty of stock to choose from but retail demand is slow
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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: “January started with gusto with some sky high prices being paid, but thankfully calmed down as we got some much needed volume into the marketplace. We expect this trend to continue during February as the trade has plenty of stock to choose from. However, it looks as though this will only remain the case for the short term and stock will soon thin out again. The majority of dealers are reporting that their phones are quiet and retail demand is slow.
“In the small van sector, the shortage of Ford Fiesta and Vauxhall Corsa sized vans persists, but there are plenty of Citroën Nemo and Peugeot Bippers to choose from. Models with extras such as side load doors (SLDs) and air conditioning are an easier sell, but standard models will still sell at a price.
“The Ford Transit Couriers coming into the marketplace are finding buyers, but this could just be the novelty factor of having a new van on the pitch. We are finally getting to the end of the Renault Kangoo vans from the parts delivery company and values haven’t slipped too badly as they were well managed into the market. The new shape variants, in particular, are selling well.
“Mercedes Citan models are more widely available now, but we urge caution with values as any volume will put the pressure on. The new model Vauxhall Combo has been well received and low mileage old model examples will still generate plenty of interest – automatic variants especially won’t sell cheaply.
“Fiat Scudo and Citroën Dispatch models need to be tidy to sell easily and older models look good value for money. People carrier versions of the Mercedes Vito sell really well, both to trade and retail buyers – they’re not even mileage sensitive so long as they’re in good condition.
“Volkswagen Transporter remains the preferred option for many retail buyers – we’ve seen some price fluctuations on lesser specification and lower horse power models. Ford Transit Custom is commonplace at the moment and we’ve seen some higher mileage examples sell for more than expected.
“In terms of larger panel vans, we have a few Ford Transit Jumbo vans in yellow in the market, from a parcel delivery company that ceased trading. These will come through the trade quickly but may take a while to retail. The good news is the leasing companies are aware they are a problem and are accepting sensible bids, taking it on the chin first time instead of trying to sit it out.
“Long wheelbase Mercedes Sprinters are generally good news so long as they’re tidy. Anything Maxi high and long will sell well. The minibus market should start to pick up now, but not for 17-seaters. We have reduced values on large minibuses, but Ford Transit Tourneo and Volkswagen Caravelle remain popular.
“The four wheel drive market should see a resurgence if the weather dips. Mitsubishi L200 is still the most common pick up but they need to be tidy and with reasonable mileage. The Land Rover Defender is generally a good seller whatever the model.”
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.