was the realignment of used van/LCV values. On average, according to Manheim Auction data, van values declined by 9.2% or £809 during the calendar year, with some market segments seeing much heavier reductions as overall used values rebalanced from the dizzy heights gained during the pandemic boom period for used van values.” But, as others have cited, the end of the
year saw a welcome uptick in performance, as Davock highlights: “In the closing quarter to 2024 Manheim recorded its strongest average selling prices for a five-month period and the year finished extremely strongly with average selling prices showing a positive uplift of +£288 versus Q2 2024 averages. Tis was certainly a positive end to the year for the used market industry and Manheim expects this to follow suit into the first quarter of 2025.” Closest to the retail van customer has to be the dealer who will be the first to see changing patterns in buyer behaviour. “2024 hasn’t really seen much in terms of groundbreaking shifts in trends,” observed Richard James, head of used commercial
vehicles at Pentagon Motor Group. Citing how critical provenance is for a retailer, he added, “Time pressures regarding stock turn mean we are all on the lookout for clean vans with two keys and documented history that can pretty much go straight onto the pitch. Tere seems to be more and more vans coming into the market with a less than stellar service record and to me the penalties for not servicing vans on contract simply must not be high enough (or properly enforced) to be in end users’ minds given the amount we are offered that have never even looked at a spanner.” Te outlook for 2025? Our contributors
were asked their opinion on what the next 12 months might bring. Glass’s Picton said: “Demand for used LCVs to remain strong certainly for the first half of 2025. With fewer numbers of new registrations in 2022, expectations are that there will be lower volumes of three year old stock back to the used market during the second half of 2025/first half of 2026.” Tis was echoed by cap-hpi’s Hanlon, who said: “We expect that volume is likely to remain reasonably high
throughout the first quarter of 2025 but could then be impacted by undersupply, as 2022 saw 73,241 fewer registrations than 2021.” Te VRA’s Nothard sees a mixed outlook:
“Further falls in 2025 are possible, especially bearing in mind that there is a lot of tired, older stock around that has limited appeal to used buyers, but they probably won’t be dramatic. Overall, we expect the market to stay reasonably strong in the new year.” G3’s Magee sees some volatility
within product sectors on the horizon. “Trough 2025, we will see a more seasonal year ahead, I can’t see a huge plunge in prices at any point on a whole, I’m sure there will be a captive of models that will see the values have to take some radical adjustment, mainly in the 4x4 double cab markets as we get closer to April.” Predicting a tough year ahead, Pentagon’s James concluded: “2025 looks like a year to batten down the hatches and deal hard with interest rates remaining high and supply being far less of an issue, which without doubt had a real influence on the majority of 2024’s used activity.”
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