CVA - Market insight

23rd June 2009

This year the market has witnessed van residuals steadily increasing and availability decreasing with it starting to become a problem as stocks start to run out.

As end users are opting for more 1 - 3 year old vans we are finding dealers are having to pay top money if they want to compete. We enjoy a large range of customers at CVA including plasterers, brickies, plumbers, couriers and obviously the trade guys. These end users are eating up all the young low mileage vehicles as an alternative to buying new from the main agents and will buy from all homes. We are selling finance repossessions, end of lease vehicles, ex-utility vehicles, council vehicles & increased entries from traders looking for a quick profit.

Although we keep hearing of the recession, money must still be accessible as many buyers are paying cash for their purchases rather than using credit card & finance options.

During May & June we have seen strong hammer prices including:

2008 '08' IVECO DAILY 35S12 LWB HIGH ROOF PANEL VAN 25,000 MILES CAP CLEAN £8575 - CVA HAMMER PRICE £8600

2008 '08' MERCEDES-BENZ VITO 109 2.1CDI LWB LOW ROOF PANEL VAN 14,000 MILES CAP CLEAN £8000 - CVA HAMMER PRICE £8150

2008 '57' MERCEDES-BENZ VITO 115 2.1CDI 3+3 DUALINER AUTOMATIC 16,000 MILES CAP CLEAN £11950 - CVA HAMMER PRICE £13100

2007 '57' PEUGEOT EXPERT L1 1.6HDI 90 H1 PANEL VAN 106,000 MILES CAP CLEAN £4625 - CVA HAMMER PRICE £4275 (Damaged N/S sill)

2007 '07' VAUXHALL VIVARO 2900 2.5CDTI 146PS SPORTIVE LWB LOW ROOF CREW VAN 65,000 MILES CAP CLEAN £8550 - CVA HAMMER PRICE £8200 (This vehicle had £500+ damage)

2007 '07' RENAULT TRAFFIC SL27 2.0DCI 115PS 9 SEAT WINDOW VAN 53,000 MILES CAP CLEAN £7300 - CVA HAMMER PRICE £8400

2005 '05' MERCEDES-BENZ SPRINTER 316 2.2CDI LWB HIGH ROOF PANEL VAN 65,000 MILES CAP CLEAN £6600 - CVA HAMMER PRICE £6500

CVA has a modest van sale that was introduced in January 2006 growing from a 30/40 lot sale to regularly offering 100 lots per fortnight. With the support of some of the countries largest banks, finance houses, lease & hire companies and utilities we are able to offer the stock that the dealers demand, the problem all auctions are facing today is the lack of quality stock on the market as average mileages & ages are decreasing. Lets hope with a long, hot summer the retail market picks up and we can see more end of lease vehicles coming on the market in 3 years time!