Used LCV prices rise by nearly 40% in 2014
By Kyle Lindsay
Monday, February 9, 2015 - 15:01
The VW Caddy remains in high demand
Used prices rose from £8,316 to £11,536 in 2014
A report issued by Autorola UK has revealed that they witnessed a 39% (£3,220) increase in the average price of the thousands of light commercials it sold via its online portal in 2014.
Prices rose from £8,316 to £11,536, reinforcing the strength of the UK used LCV market in 2014.
The average age of stock reduced slightly in 2014 from 35 to 33 months, while mileage also reduced from 23,849 to 22,544 miles which helped increase prices, but generally demand and prices were very strong across the board.
“The stock we sell online is younger than what is typically offered at physical auction. It was this sub-three-year-old stock that was in relative short supply in 2014, so demand and prices were strong, but even so we have never experienced such a major price hike in a single year,” explained Jon Mitchell, Autorola UK’s sales director.
“Used prices in 2012 and 2013 were strong, rising year-on-year from an average of £8,110 to £8,316, but to then see a dramatic increase of over a third was unprecedented. The early signs in January are that used demand and prices remain strong which is good news for asset owners,” he added.
The VW Caddy and Transporter vans remain in high demand, while any larger car-derived van such as the Berlingo, Partner, Vito or Connect are making good prices.