Used van prices increased in Q3, the first market rise in 2022
Posted 7 November 2022
According to Aston Barclay’s latest market report, the UK’s used van market has begun to return to buoyancy after prices rose in Q3, for the first time in 2022.
With the first seven months of the year showing a gentle softening of used LCV prices across the whole market, Q3 saw a return to price rises for used commercial vehicles at Aston Barclay’s sales.
Overall, the price cap of £8,023 still remains significantly higher than the cap of £6,204 for Q3 of 2020. That’s despite the initial softening of values in 2022 and the average age and mileage of vehicles sold remaining higher two years later.
Due to the constraints of the market, no overall trends have been reported within the used LCV sector according to Aston Barclay’s latest LCV desirability index, which shows that vehicle choice has largely been based on what the buyer can afford within the available vehicles that fulfill a business need.
However, double cab pick-ups remain a popular choice among buyers for their rugged versatility, with models such as the Toyota HiLux, Mitsubishi L200, and Ford Ranger remaining ever present in the monthly top 10 desirability scores. As the delivery sector begins to ramp up towards Christmas, the usual seasonal demand for 3.5-tonne panel vans and smaller final-mile commercial vehicles remains. Vehicles such as the Ford Transit Connect are expected to remain popular for Q4 as parcel delivery firms look to increase their fleet sizes to cope with seasonal demands.
Geoff Flood, Aston Barclay’s National LCV Sales Manager commented “There are no signs that the used van market will do anything other than continue at its current level until such time as used stock levels begin to improve, which looks to be some time away. A pressurised marketplace is the result, with a lack of choice for buyers, but record sales rates for vendors.”
In order to support the pressurised used LCV sector, Aston Barclay has launched a brand new LCV sale at Chelmsford. This latest physical, drive-through LCV sale has been launched to offer the maximum choice possible to buyers, with the physical sale providing the ideal purchasing environment for buyers and sellers alike.
“By consolidating our popular Chelmsford sale, and continuing with the physical driven-through sales format, we are helping to offer the maximum choice possible to our LCV buyers.” Added Flood.
More widely, the Aston Barclay Group continues to focus its attention on LCV, with The Car Buying Group beginning their Sell My Van campaign, with a new team that are on hand to be able to deliver accurate LCV valuations as consumers look to sell their vans.