LCV Marketplace

Whilst tradition dictates that December is a time when the used LCV wholesale market winds down in the run up to the Christmas Holidays, at the sales we attended trading was brisk and it was clear that professional buyers were on a quest to buy up stock, presumably in readiness for the anticipated New Year surge in retail demand. It was a case of déjà vu for regular auction-goers who will recall seeing exactly the same thing last year when low auction entries fuelled fears of continuing stock shortages and price rises ahead. Auction sales results revealed that last month the average sales performance was only down by 1% against the guide values. However, on closer examination the results are less impressive and it becomes clear that demand for large panel vans bolstered overall sales performance. Based on our own observations at auctions we noted many examples of large panel vans selling for well above CAP Average values irrespective of their condition. Achieving on average 93.4% of the guide values, car derived vans were out of favour again with Astravan bearing the brunt of this as they accounted for around 46% of all sector sales. Taking a distant second place with 15% share of sector sales, Ford Fiesta Van prices were also under considerable downward pressure due to a large de-fleet of utility company vans. Light and medium van market prices fell again although we did see Dispatch and Expert prices strengthening. Renault Kangoo prices were under pressure as the market remains over-supplied with de-fleeted ex-Unipart delivery vans. Both the Workhorse and Lifestyle 4x4 Pick-up sectors remained relatively stable. However, there were fewer entries than we have seen of late for Workhorse models and unless there is a substantial increase in the number of auction entries we can expect prices to creep upwards over the next few weeks. Compared to last month auction entries were down by 4.0%, whilst the average age of vehicles increased from 63 to 65 months. The average mileage of entries decreased slightly from 84,697 to 84,554. From our own independent vehicle inspections we found that the average repair cost for body panel damage on vehicles presented for sale increased from £327 to £340 over the month.

Database maintenance: The January 2014 plate values have been added to this edition of Red Book (printed version). To make room for these the 2004/54 values have been taken out in line with the Service Level Agreement to provide values for models between 1 and 10 years old. The January 2015 plate values have been added to electronic versions and the 1999 V plate values have been removed in line with the Service Level Agreement to provide values from the current plate up to 15 years old. Also in this edition the mileage depreciation rates and high mileage breakpoints have been reviewed for all model ranges in the Minibus sector. In addition the price differentials between the various models in the RENAULT TRAFIC [8-11 SEAT] VAT Q BUS (05-14) range have been reviewed which has resulted in some significant price movements.

The top 10 models in the sector tables below are intended to give you a clearer view of what’s driving the market. It should be noted that that the Sector Share is based on actual sales and not the availability of these models in the marketplace. The %CAP performance values are also based on actual sales. 

Since our guide values reflect the market prices of basic vans in plain white as they appear in the vehicle manufacturer’s price lists, some of guide price movements you might see in this edition may not correlate directly with the sales performances shown in the tables which include vehicles in all colours and specifications. 

In some of these tables you may also notice the same model description appearing more than once, however, the CAP Identity numbers will always be unique. Generally the lower CAP Identity numbers signify older models and higher ones are newer models; further details can be found by looking up the model/CAP Id number in the prices section of the guide.

Ken Brown, Red Book Editor -LCV's