Aston Barclay offers insight into used pick-ups following HMRC fiasco

Aston Barclay has launched the industry’s first used pick up insights data following interest in the segment stemming from HMRC’s decision to drop its new Benefit in Kind taxation legislation for one-tonne models in February.

“We record sale data on used pick-ups and based on the increased interest in the sector we have decided to share this with the industry. They currently account for between 8-12% of the used LCVs we sell across the group.

“We are seeing ex-fleet vehicles going under the hammer alongside ex-recreational vehicles across our five weekly LCV sales, so we are well placed to give a view on the market,” explained Geoff Flood, Aston Barclay’s head of LCVs.

Aston Barclay has been keeping a close eye on the sector and for every 20 double cab vehicles going under the hammer, it is selling just one single cab pick-up at auction.

Single cabs are therefore quite rare and when they do hit the used market prices are strong despite their aging vehicle parc. In Q1 24 on average a single cab pick-up was 126 months old with 76,321 miles on the clock, but it still made a healthy £7,867.

In Q1 2024 double cab pick-up prices averaged £11,177 at 86 months and 75,079 miles, which is the lowest for five quarters, but reflects the general fall in values across the LCV sector over the past six months.

Typically, single cab pick-ups are run by businesses while the double cab pick-up sector is split between business and recreational use which can make replacement cycles, mileage, condition and prices less easy to predict.

“The new pick-up market has been very buoyant over the past 18 months with sales growing by 38.7% year on year in 2023 to over 41,000 vehicles. In the first four months of 2024 sales rose by 9.6% year on year to 13,151 vehicles,” explained Flood.

“This new sales growth has contributed to higher used stock volumes coming into the market which explains the increased focus from both buyers and vendors,” he said.