Used van prices in the second quarter of 2020 soared to an all-time record level, according to remarketing firm Aston Barclay.
It says the average sale price rose by 20.8%, reaching £5,949, as more dealers chased fewer vehicles on the market, particularly when dealerships reopened on 1 June.
According to Aston Barclay, competition was so fierce that even a £3,000 van with £2,000 of damage sold above book.
The firm continued to sell used vans online during the lockdown, as sectors like home delivery saw a peak in demand.
Aston Barclay says dealers who saw stock depleted during lockdown were then faced with buying replacement stock for more than their original retail sale, which has caused challenges on cashflow and stocking strategy.
The company says double-cab pick-up prices also rose during the period, by 4.2%, on the back of a marked fall in the average age and mileage of the vehicles to 60 months and 65,000 miles.
Aston Barclay national LCV manager Geoff Flood said: “We don’t know when the prices will stabilise, although moving into July prices have cooled slightly as supply has started to improve.
“However, there is likely to be a shortage of stock during the summer as OEMs get production levels back to normal before fleets kickstart their replacement programmes.”
