Posted on: July 16, 2014
Average prices of used vans sold through online remarketing platform Autorola have increased for the third quarter in a row to record levels.
Used prices rose just under 10% from £9,605 in Q1 2014 to £10,513 in Q2 2014, an increase of £907 and an all time average high for the company.
The average age and mileage of stock in Q2 was 2012/26,377 miles compared with Q1 (2011/31,927 miles).
When analysing average prices between Q4 2013 and Q2 2014 values have risen by more than 30% (£7,985 to £10,513), which reinforces the used van market shows no sign of slowing down.
Each quarter Autorola sells a range of stock from rental companies, utilities, manufacturers and franchised dealers, but currently the 24-30 month old stock is making the strongest money.
“More ex-fleet stock is coming back into the used market at 5-6 years of age with higher mileages and in a tired condition. This has helped increase demand for the newer used stock on our platform,” explained Neil Frost, Autorola UK’s operations director.
“SMEs are still buying used vans typically under £10,000 as they continue to grow, but struggle to get finance to buy a new van. With the holiday season nearly upon us and with the economy continuing to thrive it will be interesting to see whether prices stabilise in Q3 2014 or continue to rise,” he added.