Fewer LCVs coming to market did not equate to higher prices or even higher conversion levels in August, according to the latest NAMA analysis.
In what is the quietest month of the year activity was muted. Since January, average sale prices have demonstrated a gentle fall.
The fall in values and auction activity reflects an increase in selling activity in the 4+ age ranges as drivers of older vans trade up into a new vehicle. The dilemma is that with older stock increasing as a percentage of the current remarketing parc, total values are being diluted in the face of lower dealer demand for the older stock available.
Louise Wallis, head of NAMA: “The overall picture for LCVs is a very positive one with pent up buyer demand being released as the economy improves.
“This increased new van activity is seeing an influx of older higher mileage LCV stock right now. Inevitably, this is impacting values, albeit only slowly.
“Much in the way car sales have regained sales trend normality, we expect a similar outcome in the LCV market, but this will take place over a period of months.
“In the short-term, condition is all-important and vendors are advised to ensure their LCVs are well-prepared for sale.”
Login to comment
Comments
No comments have been made yet.