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Van values hold up better than expected
publication date: Nov 27, 2008
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author/source: Robin Roberts
Manheim's new three-year Market Analysis for Vans reports that whilst average van sales values did fall during Q3 2008, when compared with the same period in each of the previous three years, the fall in values has been less significant than recent industry speculation has suggested.
In Q3 2008 the average selling price for a van was £2,888. This was 8.7pc (£277) lower than Q3 2005 and 8.7pc (£274) lower than Q3 2006. However, the most significant variation was in comparison with Q3 2007 (recognised by all within the industry as the record year) where the average selling price was 21.6pc (£796) lower. In addition to the clear economic pressures being experienced at the moment it is important to take the over supply situation into consideration as this has contributed significantly to the unprecedented re-alignment. During Q3 2008 the volume of vans sold by Manheim was 31.2pc higher than the volume sold during the same period in 2005. This was also 23.2pc higher than the volume of vans sold during Q3 2006 and 15.8pc higher than the volume sold during the same period of 2007. As these percentages relate to vans actually sold as opposed to those offered for sale, when the entire sale entry and lower conversion rates experienced at the moment are taken into consideration, the total stock figure is likely to be 30pc-40pc higher in the wholesale arena compared with Q3 2007. |
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