Second-hand van values continued to remain strong in August, averaging £9,874 over the month, according to auction company BCA. Average monthly values have risen by 28% over the last year and in August alone average values exceeded price guide expectations by 3.3%.
“Traditionally August has been one of the quieter months for LCV sales, with school holidays and the late summer Bank Holiday impacting trade activity,” said BCA’s UK remarketing COO, Stuart Pearson.
“However, the normal seasonal patterns have all but disappeared in 2021 and competition remains incredibly strong for any vehicle that is ready to go to work.”
The strong demand for vehicles is not restricted to vans. Cox Automotive reports that average HGV selling prices at its Manheim UK division are up by an incredible 58% this year, with Euro 6 HGVs in particular up 42%. A shortage of stock in the heavy truck market mirrors the car and van sectors and a severe shortage is predicted in the run up to the busy Christmas period.
“Demand for Euro 6 HGV stock is the driving force behind these great numbers we are seeing,” said Chris Mynott, national HGV manager at Manheim UK. “There is such a shortage of late plated or nearly new HGV stock, with build times for new kit way off into the latter part of next year at the earliest, the clamber for this product looks set to continue.”