Prova’s auto team is gearing up for the annual Commercial Vehicle (CV) Show at Birmingham’s NEC, which takes place 9-11 April 2013. While latest figures from the SMMT show that new van registrations dropped by 7.9 per cent, it’s not all doom and gloom in the market.
Acting as the press office for Manheim, the world’s biggest vehicle auction business, we regularly review stats and data from the used side of the market, which actually shows that demand for used CVs has grown dramatically over the last year. While average van prices at auction remained strong in January at £4,406 – increasing by 8.5 per cent year on year – average mileages have continued to rise over the same period from 81,878 to 84,377, a rise of nearly 2,500 miles over the same period.
This clearly shows that van buyers are coming back into the market, but are still looking for good value, used vehicles, instead of gleaming new metal. Looking to the longer term though, this chronic shortage of quality used commercial vehicles could be just the shot in the arm that the new van market is looking for. The theory goes that as good quality, used vans become as rare as hen’s teeth, this might stoke the fire for new vehicle sales. Buyers searching for elusive well maintained vans without damage, must reach a point where they option for a new vehicle, rather than risk their cash on a high mileage van that looks worse for wear.
It looks like all of the main manufacturers of LCVs and HGVs will be out in force at the NEC, as will the CV remarketing team from Manheim. Let’s hope it’s the start of a great year for all of them!
Image: James Davis, head of commercial vehicles at Manheim