Strong demand keeps van values steady at Manheim in February

Strong demand kept values of vans sold at Manheim in February steady, according to the remarketing company’s latest figures.

The volume of vans was 1.5% down year-on-year, while the average selling price was £6,009.

Matthew Davock, director of commercial vehicles at Manheim, said: “We saw a change in the mix of stock coming through our auction lanes in February.

“The majority of vehicles came from our fleet and leasing partners, while the number of daily rental units reduced significantly following a strong performance in January.

“This change meant that average age and mileage increased across the month. However, strong buyer demand kept the average selling price steady.

“Demand for Euro6 van stock remained high, and clean stock achieved 107% of guide values on average, but these vehicles represented just 8% of our overall volume in February.”

Manheim’s results continued to show growth in online CV sales, with 48% of vehicles sold in February won by an online buyer (up 11% year-on-year).

The business also recorded strong results across its online-only channels, with a year-on-year volume increase of 18%.

Looking ahead to March and April, Davock said:  “Retailer sentiment suggests that new van sales are broadly positive.

“I’m encouraged by the appetite from manufacturers to offer deals and discounts on new that will encourage the replacement of pre-extended used stock.”

“There is some uncertainty creeping into the market, but overall I believe that the results speak for themselves, with good levels of demand across the board.

“The focus on clean air zones, and the newly-announced TfL scrappage scheme will certainly generate high levels of interest in Euro6 vehicles, and I expect demand to significantly outweigh supply in the coming months, especially in the London area.

“Outside this area, Euro5 product is still in demand, and overall condition and specification remains key in the buyers’ eyes.”