New Launches
Show Report: CV Show 2012
What a cracking event the 2012 Commercial Vehicle Show turned out to be, thanks in no small part to Ford… Read More
Mitsubishi L200 4x4 Long-Term Test 1
We has just taken delivery of a Mitsubishi L200 4x4 Club Cab for long-term appraisal… Read More
Ford Transit ECOnetic Brief Test
We’ve been putting a SWB 100hp 2.2TDi Euro 5 Transit 280 ECOnetic through its paces… Read More
Renault Kangoo ZE 2011 European Launch
Renault is at the forefront of manufacturers offering a mass produced factory-built electric van… Read More
Fuso Canter 2011 European Launch
Fuso has completely revamped its range of light and heavy truck Canter chassis and chassis crew cabs… Read More
Iveco Daily 2011 European Launch
Iveco has introduced new, latest generation diesels to its Daily range, along with detail changes inside and out… Read More
Ford Transit 2011 European Launch
Ford takes the iconic Transit to the next stage with an all-new range of 2.2-litre Euro 5 diesels… Read More
Volkswagen Crafter 2011 UK Launch
VW’s large panel van has undergone a serious makeover with changes to the front-end styling and the cab interior, as well as new Euro 5 diesels… Read More
Ford Transit Connect Electric Brief Test
We spent a day with the battery-powered Connect to get a better idea of what it’s like to live with in its natural, urban environment. Read More
Mercedes-Benz Vito E-CELL Brief Test
Currently undergoing trials with selected fleet customers in the UK, we managed to get behind the wheel of a battery-powered Vito E-CELL… Read More
Volkswagen Crafter 2011 European Launch
Volkswagen’s Crafter has undergone a midlife makeover and gets a new front-end along with new Euro 5 engines… Read More
Tough times for used van buyers in 2012
Manheim Remarketing is warning that used van buyers will find the marketplace tough next year as demand outstrips supply. The UK’s economic woes, budget cuts, the dreaded Olympics, changes in London’s Low Emission Zone (LEZ) to include vans and a drop in de-fleet volumes will all conspire to continue to keep the demand for used light commercials ahead of supply.Another critical factor will be that the disastrous near 40 per cent drop in new van sales recorded in 2008 as a result of the banking system imploding will begin to be felt in the used market in 2012 through 2013, when the shortage is expected to peak. Add to this that some large contract hire fleets are reporting reductions of up to 30 per cent in van de-fleet volumes in 2012 and it doesn’t take a mathematical genius to work out the end result.
Undoubtedly, vendors with the right product in the right condition will have a good year, but buyers looking for that product will have to travel far and wide to find what they want, especially as demand is likely to increase as the full impact of the introduction of changes to the London LEZ becomes evident.
Buyer attendance this year at each physical Manheim auction has regularly exceeded 200 with more than 80 also logging in online via Simulcast resulting in 49 per cent of vans attracting an online bid and 21 per cent actually selling online. This trend will only increase in the face of ongoing stock shortages.
“While the underlying trend in 2012 is expected to be for a continued robust wholesale van market, there are several factors that could influence that expectation,” said James Davis, Manheim Remarketing’s director of commercial vehicles. “With summer and the Olympics combining we are likely to see extended seasonality as retail activity slows. “There is a possibility of an increase in repossessions as businesses fail to secure funding in a fragile economy. I would add a note of caution as we may have reached a ceiling in the average sale prices of vans. While rarer models will always attract a premium, our five-year analysis proves that since Q3 2006, van values have increased by just over 27 per cent, this despite average age increasing by two months and average mileage by 6,000 miles. Today some retail customers are struggling to justify how these older, higher mileage vans can be worth more. That said the value offered by a used van, as opposed to new one, is clear for all to see and one thing is for sure; commercial vehicles remain at the heart of our economy.”