Used van prices soared by nearly 21 per cent in quarter two, Aston Barclay has said.
The auctions firm reports it saw prices rise by 20.8 per cent or £1,026 to £5,949 in the quarter – an all-time record level.
Aston Barclay said between 330 and 360 online buyers were logged on for each sale during the period, with all types of vans and chassis cabs finding homes, even a £3,000 van with £2,000 of damage sold above book.
The only vehicles that have struggled are nine-seat minibuses as they do not work currently for operators based on current social distancing rules.
Aston Barclay continued to sell used vans online during the lockdown as sectors like home delivery experienced a peak in demand.
Double-cab pick-up prices also rose in Q2 by 4.2 per cent (£312) on the back of a marked fall in average age and mileage to 60 months and 65,000 miles.
Stock remains in short supply, says the company, but replacement cycles are now consistently at five years, which vendors consider as their optimum contract length.
‘We don’t know when the prices will stabilise, although moving into July prices have cooled slightly as supply has started to improve,’ said Geoff Flood, Aston Barclay’s national LCV manager.
‘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 programme,’ he added.
The trend is is reflected in used car prices too, as reported in-depth by Car Dealer.
Aston Barclay also saw record prices for used cars in Q2, suggesting the firm to predict the demand won’t cool until October at the earliest .
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