Attendances at auction during the early summer period were generally good with buyers continuing to actively seek out the best stock available.
Vendor conversion rates at auction continue to fluctuate as the supply of ready-to-retail stock failed to keep up with demand. With stock needing work continuing to be shunned at auction, the used market is expected to see further downward price pressure until the introduction of the new plate in September.
An increase in younger stock at auction has seen values of 0-24-month vehicles improve – however, reserves still remain too close to the price of discounted new stock. A spike in interest has seen prices of the last of the old-shape Ford Transit 260/280 SWB surge. Tidy examples are now exchanging hands for more money than a similar-plate Custom 270/290 100hp model.
The 3.5t large panel sector continues to struggle, with the majority of stock on offer being high mileage and hard-worked. However, old-shape Ford Transits, if found with sensible miles and with straight panels, have seen values firm of late. The majority of vans continue to underperform, with only tidy examples of dropside, tipper and Luton derivatives bucking the trend.
Volumes in the 4x4 sector is a big concern. Supply outweighs demand with only the best having any chance of finding homes at the first time of asking. Late-year used stock is priced too close to that of a discounted new model, with many potential buyers opting for new over used. Best results are reserved for those that are older and more sensibly priced.
Andy Picton is chief commercial vehicle editor of Glass’s, the used vehicle valuation experts.