BUYER’S GUIDE Contents 33 SECTOR ANALYSIS
Demand for bigger compact vans is healthy but minivans are now an endangered species, reports James Dallas
35 DATA – POWERED BY GLASS’S
What Van?’s wide-ranging data section covers every model on sale in the UK and provides all you need to know to buy your next light commercial vehicle – from up-to-date prices and residual values to fuel economy and load capacity.
35 BUYING A USED PEUGEOT PARTNER
Overall the Partner is an economical, hard working, practical and generally comfortable van, says Ian Shaw
Used light commercial vehicle overview – July
Greater volumes of used vans are entering the wholesale market. The large majority are over fi ve years old and with mileages that make the vehicle unattractive to many buyers. Vehicle return damage is more prevalent, with repair costs increasing by more than 25% year-on-year. Due to a shortage of parts and body shop availability, prepping stock is now taking between a month and six weeks. Used values have softened across the board, however, strong prices continue to be paid for ‘ready to retail’ stock. Sales of electric vans have struggled so far this year, with most looking too expensive against their ICE counterparts. As part of our ongoing monitoring of the used market, we have lowered some EV values, resulting in a better conversion rate for them. With summer upon us, the wholesale market has been noticeably quieter, with many trade buyers reporting a downturn in business. Sales have slipped nearly 10% over the month, while average sales price has slipped by 5.2% over the same period and by 13.5% from July 2022. The average age of vehicles sold during July increased from 81.9 months to 83.4 months, with the average mileage of those vehicles decreasing by nearly 3.7% to 79,845 miles. This is 414 miles higher than 12 months ago. Again, the used medium van sector was the most popular. These vehicles accounted for 31.5% of all auction sales, followed closely by the compact van sector with 31.3%. Volumes of 4x4 stock sold accounted for only 13.7% of all sales, but attracted the strongest average sales prices of £13,938, down over £4,400 on June. Large vans covered more distance than any other model type at an average of 96,150 miles, a marked increase of nearly 5,500 miles on June.
First-time conversion rates for July increased by 2.9% to 74.6% overall, and sat 5.2% higher than at the same point 12 months ago. This increase was refl ected across all sectors with the medium panel van sector returning the best conversion rate of 75.6% (up 4.4% on June). Meanwhile, 4x4 pick-ups recorded an increase of 3.8% to 75.1%, large vans sat at 74.0% (no change) and compact vans at 73.8 % (up 2.8%). Used vehicles observed for sale in the wholesale market last month remained static at nearly 42,000 units. Of all vehicles on sale, 49.1% were valued at £20,000 or more, while 34.0% were on sale for between £20,000–10,000. At the lower end of the market, those vehicles on sale in the £10,000–5,000 price bracket saw volumes increase to 12.5%, while those on sale for less than £5,000 remained at 4.4% of the overall market.
Andy Picton is chief commercial vehicle editor of Glass’s, the used vehicle valuation experts
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