BUYER’S GUIDE WhatVan?
Contents 44-59 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.
Used light commercial vehicle overview - October
As the number of new LCV registrations has continued to increase throughout the year, de-fl eet volumes have risen as well. With nearly 65% of all sales at auction being Euro 6 models, there is a widening two tier market and recognition that buyers are actively moving away from non-compliant ULEZ/CAZ stock. The average age of Euro 6 stock is nearly 53.5 months, with an average mileage of just over 72,000 miles and an average selling price of nearly £10,850. A third of all stock sold was Euro 5 or older, with an average age of 143 months, an average mileage of over 106, 000 miles and an average sale price of under £3,000. Used electric vans make up less than 2% of all sales at auction but have recorded a near 60% rise in sales over the last three months.
The volume of sales increased by nearly 9.5% over the month but average sales prices dropped by 12%, refl ecting a higher level of ‘samey’ stock at auction. The dramatic decrease now sees price levels sit 15% below October 2022. The average age of all vehicles sold now sits at 83 months, up 7.8 months on September and up 4.1 months from 12 months ago. The average mileage increased by 6.8% to 82,584 miles and sits at the same level as 12 months ago. More medium vans were sold at auction than any other vehicle type, accounting for nearly 32% of all auction sales. Small vans accounted for just over 30% and large vans 25.2%. Volumes of 4x4 stock sold accounted for only 12.5% of all sales but attracted the strongest average sales prices of £13,149, down over £2,728 on September. Large vans covered more distance than any other model type at an average of 91,559 miles, 1,700 miles higher than September. First-time conversion rates for October rose by 0.8% to 76.6% overall, but sat 3.1% lower than at the same point 12 months ago. Broken down, the best conversion rates were seen in the medium panel van sector at 77.2%, down 1.9% on September. Meanwhile, a conversion rate of 75.4%, up 5.3%, in the 4x4 pick-up sector returned the lowest. Used vehicles observed for sale in the wholesale market last month increased by nearly 3% to nearly 42,500 units. Of all vehicles on sale, 46.7% were valued at £20,000 or more, while 35.4% were on sale for between £20,000 and £10,000. At the lower end of the market, those vehicles on sale in the £10,000 to £5,000 price bracket made up 13.7% of the overall market, whilst 4.2% were on sale for less than £5,000.
Andy Picton is chief commercial vehicle editor of Glass’s, the used vehicle valuation experts
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