Scorching summertime van market set to smash seasonality
Manheim, the UK’s number one commercial vehicle auction company, saw the average selling price for vans sold at its auctions rise by 8.5% year-on-year in June, to £5,121.98.
As predicted in May’s update, de-fleeted volumes were expected to soften over the summer months and overall volumes reduced by 12% in June and a year on year reduction of 4% against May 16. The reduction in the overall volume offered has fuelled a 1.5% increase in our average selling price against May 17.
Matthew Davock, head of LCV at Manheim, said: “Overall performance in June was very encouraging and when comparing month on month and year on year statistics this further demonstrates we are witnessing a super-heated market place in what historically can be a challenging period.”
On average, vans sold at Manheim in June were four months younger than a year ago, with an average age of 61 months and average mileage was down 4.3% year-on-year to 76,934. However, since January our average age and mileage continues to rise month on month.
The 2017 market place continues to demonstrate strength and consistency, but month on month volume levels are proving very difficult to predict what will happen next. With Two quarters complete, who would have predicted the volume shifts we have witnessed, record de-fleeted volumes during Q1, followed by a staggering 27% less volume when you compare Q2 against Q1’s market place.
Super-heated van market place continues to be the Manheim buzz word, taking into account the volume statistics. The UK’s Number 1 CV auction company continues to be on track to break all previous sold records. Davock continues “The first half of 2017 has been incredible and the results we have delivered for our clients have been industry leading. We continue to grow our leading position and year to date we have grown our overall volume number by 14% against our 2016 position.
“Feedback from our buyers in June was mainly positive, many reporting good retail activity with June being the strongest retail month of Q2 when compared against a reported slower April and May period. Overall June provided strong and positive buyer activity in our online and auction lanes, physical buyer base attending sales increased by 8% and our online attendees have shown 16% uplift against May’s numbers.
Matthew Davock added: “As we enter July the market place remains positive and I predict de-fleeted volumes to be similar to June. If retail activity continues as expected this will further fuel what could be the strongest and very much super-heated summer market place on record. Further to my market update please check out our James Davis blog update on SME’s and ULEZ."