Just as Aston Barclay Car Auction Group thought used light commercial prices had reached their summit during Q2, average prices rose yet again in Q3 by 4.2% (£255) to £6,204.
That equates to a massive 26% price rise in 2020 from a Q1 average of £4,923 to £6,204 (£1,281) in Q3, and there are no signs of the market cooling down as it enters Q4.
With the continued growth of online shopping, sectors such as home delivery continue to grow at a frightening pace which will further fuel used van demand.
In Q3 the rise in prices is despite average age and mileage increasing quite dramatically to 68 months and 105,648 from 60 months and 96,090 miles in Q2.
Both these increases can be attributed to vans working harder since lockdown and replacement cycles being delayed while new vans were unavailable.
Not to be outdone double-cab pick prices rose on average in Q3 by 4.7% (£488) and have risen by a total of 9.2% (£900) since Q1 2020.
“The market has never seen a 26% rise before and from the high demand and lack of supply we are continuing to experience at auction the van price boom will continue into 2021,” explained Geoff Flood, Aston Barclay’s national LCV manager.
“We are also hearing that some new vans are suffering from long lead times which will mean prolonged replacement cycles and heavier demand on used vans which will keep prices sky high,” he added.