Seller’s market for used van sales
Average prices are up 43% compared to five years ago, despite being nearly a year older and having covered 9,000 more miles. Indeed, the volume of older vehicles has risen significantly in the past five years, with LCVs over nine years old now representing by far the largest percentage of the total.
“While this is good news for sellers, from the buyers’ perspective the outlook for 2014 is that supply issues could actually worsen,” BCA’s General Manager for Commercial Vehicles, Duncan Ward, said.
“There was a significant drop in new van sales between 2008 and 2009 and with the average van being sold at just under five years old, this will be reflected in the volume of vans reaching the wholesale markets in 2014. This ‘supply gap’ means the used LCV sector may be short of stock for some time to come.”