Used vans market continues to thrive at auction with values hitting record levels

Time 1 year ago

Used vans have been in strong demand at auction houses in September, the National Association of Motor Auctions said today (Sep 21).

With various trades returning to work, online shopping activities – which often need vans for deliveries – staying strong and most people going back to work, association members have reported demand continuing to exceed supply.

This has led to prices for the vehicles hitting higher levels than in 2019 and on course for record figures for the rest of 2020 and into next year.

Steve Botfield, senior CV editor at Cap HPI, said: ‘The wholesale market for LCVs is astounding and auctions are achieving exceptional prices for vehicles.

‘Over the past three months, values have increased on average by over 10.5 per cent, with no early signs of this performance abating.’

Nama head Louise Wallis said: ‘The auction market remains buoyant and continues to grow, despite times of economic uncertainty.

‘Demand for LCVs has been extremely strong for the industry, as online sales have been established as a crucial component towards the market’s growth.

‘The shift in consumer shopping activity from physical to online retail and the subsequent increase in deliveries has been supporting demand for used vans.

“We expect the auction market to remain at high levels, especially if online sales continue to perform well.’

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