Used van values tipped to rise further
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Commercial vehicle operators looking to add to their fleet of vans may seek to enter the used market now in order to avoid a potential increase in prices.
According to the latest data from British Car Auctions (BCA), values grew at a slower rate in June than during the previous month as the average cost of a used van fell to £3,468.
This was slightly less than the £3,595 recorded in May, suggesting the market may have reached a plateau - despite still being some way off last year's peak of £3,868.
However, BCA general manager of commercial vehicles Duncan Ward said used van prices are still likely to rise further, noting that demand is often weak in the summer months.
"While values have slowed from the terrific month-on-month increases we saw earlier in the year, it's far too early to suggest prices have topped out yet," he commented.
Mr Ward added values are likely to "improve markedly" from September onwards.
According to the latest figures from the Society of Motor Manufacturers and Traders, the number of new van registrations fell by 40.1 per cent in June as the recession continues to restrict business buyers.
