AS I have been going round the trade, it appears that many dealers are advertising an amazing number of 'Y Reg - delivery mileage' vehicles. These are cars that have been registered by franchised dealers to achieve their first quarter's sales objectives.

Most dealers are given a target to reach from January 1 through to March 31, with a bonus being paid on reaching the target. There is nothing new in this, as it has been going on for many years. The difference this year is that since the introduction of the Supply of New Cars Order 2000, dealers and manufacturers are not supposed to register cars unless they are for their own use for a minimum of three months, or declared as pre-registered cars. It is true that many dealers are replacing courtesy cars and demos with these vehicles, but some are simply contravening the order. The most worrying thing is that it is not only franchised dealers offering these cars. Others are buying them direct from main dealers and putting them on their used car lots alongside their general stock. This will do nothing to help the used car market return to stability.

According to our 'van man' David Hill, senior editor of Red Book, the bank holidays have seen a general slow-down in the light commercial market. In particular Ford Escort vans need to be watched carefully, as any big numbers entering the market will depress values rapidly. The same can be said for any of the French car-derived vans which are all holding up well but are only to be found in small numbers at present.

Larger panel vans are holding steady despite the slowing market but again new shape Ford Transit vans with 75PS engines, in long and medium wheelbases, are bad news at the moment. What we have to look for now is how the rest of the range will hold up. Tippers and dropsides are currently good news however, of any age or model. Minibuses may pick up a little as the sun starts to shine but automatics are generally up to £500 behind the manual equivalent.