Motor Industry News
MyCarCheck.com/Trade Used LCV Market Overview March 2015:
Volume up but prices down on last year and values could weaken
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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: “CDL VIS sits on the committee of The National Association of Motor Auctions (NAMA), which has just published some interesting year-on-year comparison statistics. In terms of volume, January 2015 was up 6% on the same month last year. That looks a lot, but in reality it is only 545 units. Perhaps more importantly, sale prices were down 0.5%, equating to a substantial £24 less per unit.
“We expect the current, generally healthy, level of volume to continue throughout March and into April, by which time values will probably be starting to slip a little. As always, anything nice that requires little or no refurbishment will still be desirable and easy to retail. However, the retail market does appear to have slowed slightly, with dealers complaining that the phone isn’t ringing.
“In the small van sector, we still have a shortage of stock, although a few new shape Ford Fiesta vans are selling well. The same goes for Vauxhall Corsa vans, but there’s very little of anything else. Fiat Fiorinio, Peugeot Bipper and Citroën Nemo are all still about in numbers. Volkswagen Caddy is still having mixed fortunes, with 75 ps models really struggling – to the extent that we’ve again increased the gap between that and the bigger horsepower models.
“Mercedes Benz Citan and Renault Kangoo are still performing well, especially Maxi models. Fiat Scudo and its sister vans are still good news and older models, if sensible on the mileage, should make strong money. In fact, they look great value at the moment.
“Toyota Hi-ace models are holding their value well as people see them as a solid reliable option. Ford Transit short wheelbase models also look good value and are selling well, with the semi high roof models from the media company particularly sought after.
“Trade buyers keep asking when the bubble will burst for the Volkswagen Transporter. Well, let’s say it has a very slow puncture. Some values are slipping due to volume in the market, mainly on 84 or 102 models in white with no extras. Other Transporter models continue to fly.
“In the large panel van sector, newer shape Renault Master and Vauxhall Movano vans are great news, especially if you can find one with little or no damage. The same can be said for the Citroën Relay and Fiat Ducato – if they’re in trade condition they should easily make trade values. Ford Transit Jumbos are generally fine, except perhaps if they’re yellow. We’ve seen some orange examples doing very well. Mercedes Benz Sprinter is also good news, with even older examples still finding buyers. Volkswagen Crafter needs to be clean with full service history and preferably not too big on the miles.
“The 4x4 sector is limping along at the moment, with too many double cab pick-ups in the market. Single cab versions are selling easily and at all the money. 4x4 vans seem to be doing ok, but this is very much a niche market.”
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.