The average value of 4x4 pick-ups has hit £6,204, some 48.3% (£2,023) higher than in February 2009, according to the latest figures from Manheim Auctions. 

This also represented the highest recorded value for 4x4 pick-ups since Manheim began its monthly reporting on the wholesale used van market in 2006. The previous highest average monthly value recorded was £5,574 set in September 2007.

Values in the overall wholesale van market were also up by 21.9% (£589) over the same period.

The significant rise in average values, while influenced in part by an increase in the volumes of late plate, low mileage 4x4 pick-ups in recent months, has been driven primarily by a recovery in values of models over 24 months old. 

The age and mileage profile for sub- 24-month-old vehicles has been remarkably stable over the last 12 months with values dipping in quarter four of 2008 but recovering from February this year. 

Alex Wright, sales director, commercial vehicles at Manheim, said: “This significant recovery in used values in the 4x4 pick-up segment in the past six months is a trend that we have been expecting, following the dramatic fall in used wholesale values in the first half of 2008. 

“While the market did stabilise for the remainder of 2008 it wasn’t until March 2009 that the first signs of significant recovery became evident with a 16.9% (£708) month-on-month increase.

“There are several major factors that have influenced the recovery. This segment is a mature market in the wholesale arena with well established demand and plenty of choice.
“Average values were so reasonable at the beginning of the year that many dealers, including a growing number of car dealers, saw the incredible value offered by double-cab, 4x4 pick-ups. 

“With 4x4 pick-ups categorised as commercial vehicles they would have avoided the Government’s planned retrospective road fund licence increases.”