Aston Barclay saw its used van prices fall in February, not because of a reduction in demand but because a high volume of high mileage ex-fleet stock reached the market in the same month.
Prices fell by 11.1% (£924) to £7,348 as average mileage rose from 92,000 miles in January to 104,000 miles in February, while average age remained at 61 months.
A large percentage of the vans sold during February were higher mileage stock that leasing companies had been holding back while others were extended contract vehicles that reached auction as their new 21-plate replacements were delivered.
“It was an odd month as it was the first price fall since Q3 2019, but demand for any age, make or model of van remained very strong,” explained Geoff Flood, Aston Barclay’s national LCV manager.
“It’s worth noting that even at £7,348 prices in February 2021 were 49.3% and £2,425 higher than Q1 2020, which clearly shows how the market has changed in such a short period of time,” he added.
Double-cab pick-up prices rose during February by 6.9% (£831) on the back of a major fall in age and mileage by four months and 9,500 miles to 62 months and 56,000 miles. Stock also remains low, and it is a market that is constantly changing.
Nissan has now announced that it will discontinue its Navara pick-up, while demand for the Mitsubishi L200 remains depressed based on news from July 2020 that the manufacturer plans to leave the UK and European market.
“It’s a market which is losing some key models, but used demand is very strong simply because of the double-cab’s versatility of doubling up as a work tool in the week and as a family vehicle at weekends,” said Flood.