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Commercial Vehicle Overview May 2019

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At face value it appears to have been a disappointing start to Quarter 2 with the current trend indicating that sales volumes for April-May are heading for a five year low at around 10,500 units. However, as the Trade Sales Forecast chart below shows, we normally expect to see a downturn in sales between March and April much of which we attribute to the end of term school holidays and the long Easter weekend. With the schools closed for up to  a fortnight between the 8th and 26th April this year, depending on school locality, and the Easter holiday weekend falling during the third week, the downturn in auction activity is more or less what we expected.

It’s worth noting that the drop off in sales volume for this April is nowhere near as severe as what we have seen in previous years. In 2017 for example, between March and April used LCV sales dropped from around 15,500 to around 11,600. We also note that 2019 sales volumes are down generally year on year so even if we are heading for a five year low it is less spectacular than we might have first thought because sales are already at a much lower level than previous years.  

Trade Sales Forecast

The Trade Sales Forecast chart below clearly shows that the monthly average sales volume has been significantly lower since the beginning of the year compared to the previous four years. However, apart from 2016 when, arguably, the Nation was distracted by the EU Referendum campaigning and reports by some that the economy was about to plunge into recession, we tend to see sales volumes bounce back in May.

Capture

From the auctions we visited around the country last month it was clear that the holidays were having an impact on attendance levels and the familiar faces of some of the professional buyers we’d normally expect to see were conspicuous by their absence at some sales. However, this was more than compensated for by the number of end-users in attendance, so if there was any drop-off in footfall it was hardly noticeable. That said, with some auction sites now reporting that up to 50% of all sales are made over the internet, it is clear that footfall is no longer a reliable indicator of how lively an auction sale is going to be. Generally, it was noticeable that professional buyers were reluctant to pay for vehicles exhibiting anything more that minor damage whilst they were prepared to pay well over the guide price for vehicles that we would deem to be in ‘CAP Clean’ condition.


Supply Trend: Auction Catalogue Entries
 

May-18

Jun-18

Jul-18

Aug-18

Sep-18

Oct-18

Nov-18

Dec-18

Jan-19

Feb-19

Mar-19

Apr-19 MTD

Auction Entries % Var

16,795

15,200

15,200

15,525

12,423

15,581

14,501

9,751

16,405

17,494

17,929

10,125

Re-Entries

22.96%

27.65%

31.18%

28.04%

24.48%

24.61%

26.51%

31.42%

30.92%

30.97%

31.59%

32.45%

New Entries

77.04%

72.35%

68.82%

71.96%

75.52%

75.39%

73.49%

68.58%

69.08%

69.03%

68.41%

67.55%

Average age (Months)

63

61

60

61

61

60

63

63

59

60

61

62

Average Mileage

75,780

74,631

76,993

76,087

74,994

75,074

78,883

78,312

75,974

75,974

76,365

78,223

Each day we collect the auction entries from the online sale catalogues from most of the major LCV auctions centres across the UK. Using the same auction centres each time, we store these sale entries in our database so we have a reasonably accurate view of the volume and model mix of vehicles in the marketplace at any given point in time.

We are now showing the actual number of auction entries in this chart rather than a monthly percentage change in the number of entries. We believe this will be more useful to our subscribers and give a clearer indication of the overall availability of used stock.

During April our daily analysis of the auction sale catalogues revealed that auction entries were down by approximately 330 when compared with the same period in March. The average age of vehicles increased slightly from 61 months to 62 months (month-to-date) and the average recorded mileage increased from 76,365 to 78,223 (month-to-date).

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When we overlay the weekly LCV auction sales against the weekly auction catalogue entries we can see how the gap between supply and demand widened from the end of November last year and, ignoring the Christmas holiday period, it continued to increase until around the first week in March.

We are now seeing that gap decrease which suggests that the balance between supply and demand is returning back to more sustainable levels as we saw between April and November last year.

Sales Performance by Sector

The following chart shows how the sector market shares and sales performances against the guide values have changed over the past three months for each LCV sub-sector. These are based on actual sales transactions of 3 year vehicles at 60k miles. At 99.22%, overall, used LCV market prices were slightly stronger than last month.

 

February 2019

March 2019

April 2019

LCV Sector

Market Share

Performance

Market Share

Performance

Market Share

Performance

City Van

3.55%

100.28%

4.46%

95.59%

4.60%

96.33%

Small Van

23.18%

100.21%

23.20%

99.80%

23.66%

99.59%

Medium Van

29.78%

101.20%

30.63%

99.71%

29.81%

100.56%

Large Van

19.95%

99.00%

18.98%

98.06%

17.58%

97.32%

Over 3.5T

0.35%

99.30%

0.17%

95.99%

0.31%

98.50%

4x4 Pick-up Workhorse

1.99%

100.13%

1.86%

100.42%

1.80%

99.01%

4x4 Pick-up Lifestyle SUV

11.81%

101.18%

12.81%

99.93%

12.96%

99.37%

Forward Control Vehicle

0.22%

97.68%

0.16%

96.85%

0.17%

98.05%

Chassis - Derived

6.19%

98.56%

5.25%

97.48%

6.35%

97.50%

Mini-bus

0.39%

103.27%

0.36%

104.36%

0.34%

103.45%

Vat Qualifying

2.48%

98.75%

1.77%

100.27%

2.03%

100.89%

Total Market

100.00%

100.24%

100.00%

99.18%

100.00%

99.22%

The price performance across most sectors have remained strong throughout April with only City Van, Large Van and Chassis Derived sectors showing any real signs of weakness.

The City Van sector overall performance continues to be affected adversely by a large utility company de-fleet of Fiesta Vans (in Blue) which on average are achieving around 90% of the guide price.

The Large Van sector was generally weak across most model ranges, particularly the older models. Under-performance of old shape Ford Transit, which continue to dominate this sector, had a significant impact on the overall performance of the sector. Interestingly, the latest shape Euro 6 Transit prices have weakened whilst lower priced Euro 6 Citroen Relay, Peugeot Boxer and Renault Master have all appeared at auction in reasonable numbers and all performed just above the guide values, begging the question are they more affordable solutions to the ULEZ issue?

Although only 0.5% away from a respectable performance we did note the under-performance of 2013 model 3 series Sprinter Dropsides last month. These were largely responsible for the weakness in the Chassis Derived sector.

Although we don’t normally mention them due to the current lack of research data we couldn’t help but notice the interest buyers were showing in a batch Nissan eNV200 Electric (14- ) Vans. There were bidding wars going on in both the halls and on the internet. By the end of our research period we had seen 27 of them with an average selling price of £11,161 – 112% of CAP Average.

Average Price Change by Sector

The average percentage and monetary movements in the above table serves as an indication of the price adjustments we’ve made to models in each sector at 3yr/60k miles. It’s not intended as a guide for specific vehicle valuations.

 

March 2019

April 2019

May 2019

LCV Sector

Average % Movement

Average £ Movement

Average % Movement

Average £ Movement

Average % Movement

Average £ Movement

City Van

-2.9%

-£103

-1.9%

-£75

-1.6%

-£61

Small Van

-1.3%

-£64

-1.5%

-£76

-1.0%

-£49

Medium Van

0.3%

£28

-1.0%

-£102

-1.2%

-£112

Large Van

-3.7%

-£313

-1.3%

-£113

-2.7%

-£233

Over 3.5T

-1.8%

-£192

-1.0%

-£120

-2.1%

-£248

4x4 Pick-up Workhorse

1.6%

£193

-1.1%

-£130

-0.7%

-£81

4x4 Pick-up Lifestyle SUV

-0.6%

-£70

-1.9%

-£226

-1.0%

-£115

Forward Control Vehicle

-0.8%

-£91

-1.0%

-£116

-0.9%

-£102

Chassis - Derived

-2.5%

-£234

-1.1%

-£111

-2.5%

-£249

Mini-bus

2.1%

£248

0.3%

£36

-0.6%

-£81

Vat Qualifying

-0.8%

-£98

-5.2%

-£620

0.6%

£75

Updated - Vehicle Colour/Price Guide

Whilst auction catalogue entries always specify colour, it’s the guide values of White vans that you will see printed in the auction catalogues.

Every month in this editorial we remind our subscribers that the published guide values are for standard vehicles in plain white as they appear in the vehicle manufacturer’s price lists.

It’s widely accepted within the remarketing industry that age, mileage and condition aren’t the only factors that can affect how much a used vehicle is worth, colour is extremely important too. Whilst traditionally there have been fewer standard colours to choose from when buying a commercial vehicle, over recent years that’s changed as vehicle manufacturers have responded to a growing demand for vehicles in a much greater range of colours. Some manufacturer’s will also supply vehicles factory-painted in corporate colours to fulfil certain large fleet orders adding even more colours into the mix of vehicles which eventually come back into the used LCV market.

Whilst white remains the colour choice for most new LCV buyers, increasingly we are seeing more and more vans in other colours entering the used market. The chart below is intended as a guide to illustrate how more or less in percentage terms you would expect to pay for a vehicle in any of the colours listed. For example, if you were bidding on a Silver van in the City Van sector you can expect to pay on average 1.88% more than you’d pay for the same van in White. The values shown in this table are based on actual trade sales of vehicles at open auctions and that at any given time the market values of vehicles are dependent on many other factors such as supply volume and condition.

Colours

City Van

Small Van

Medium Van

Large Van

4x4 Workhorse

4x4 Lifestyle

Mini-bus

VAT Qualifying

White

cap Average

cap Average

cap Average

cap Average

cap Average

cap Average

cap Average

cap Average

Silver

1.88%

3.48%

2.60%

4.58%

1.95%

1.02%

-0.94%

1.81%

Blue

-0.19%

0.44%

2.61%

1.04%

1.38%

1.08%

-2.46%

1.73%

Black

3.64%

4.44%

3.68%

3.39%

2.19%

0.99%

 

3.96%

Grey

4.85%

5.74%

4.34%

3.53%

2.78%

1.38%

 

4.50%

Red

0.71%

-0.51%

1.62%

-1.32%

1.63%

0.31%

 

2.43%

Yellow

-4.23%

-4.24%

-6.32%

-7.72%

       

Green

-0.45%

-3.98%

-2.88%

-2.37%

2.10%

0.79%

 

5.15%

Orange

 

0.26%

8.60%

0.79%

 

1.64%

   

Brown

   

1.17%

   

1.95%

 

-0.94%

Top 10 models driving the used LCV Market

The Top 10 tables below give you a clear picture of the makes and models in the main LCV sectors that are driving prices in the used LCV Market. Arranged in order of their respective share of total sector sales, the percentage CAP performance is based on actual recorded sales. 

Since our guide values reflect the market prices of basic vans in plain white as they appear in the vehicle manufacturer’s price lists, some of the guide price movements you might see in this edition may not correlate directly with the sales performances shown in the tables since these include vehicles in all colours and specifications.  Also, as part of process for reviewing guide prices we take into account condition and the weighting effect that stock availability and sales volume might have on price.

The commentary contained within the Top 10 Tables is intended to give an overview of any sector level price adjustments we have made in this edition along with specific items of interest that we noted whilst attending auctions and analysing our sales research data.

We also include an exception list of model ranges which have had individual price adjustments rather than sector-level. The percentage value in square brackets at the end of each of the model range names listed in the table indicates any individual price change we’ve made in this edition.

 

CAPId

City Van

Sector Share

%CAP

%CAP White Only Condition Adjusted

26326

FIESTA DIESEL - 1.6 TDCi ECOnetic Van

27.16%

89.8%

97.8%

24217

NEMO DIESEL - 1.3 HDi Enterprise [non Start/Stop]

6.17%

97.2%

96.6%

26324

FIESTA DIESEL - 1.5 TDCi Van

4.94%

93.4%

96.1%

30871

TRANSIT COURIER DIESEL - 1.5 TDCi Trend Van

3.46%

94.4%

98.0%

30869

TRANSIT COURIER DIESEL - 1.5 TDCi Van

3.46%

97.0%

97.0%

34481

FIESTA DIESEL - 1.5 TDCi Sport Van

2.96%

107.4%

110.4%

9734

ASTRAVAN DIESEL - Sportive 1.7 CDTi Van

2.72%

115.9%

 

30873

TRANSIT COURIER DIESEL - 1.6 TDCi Trend Van

2.47%

102.5%

107.0%

26328

FIESTA DIESEL - 1.6 TDCi Sport Van

2.47%

106.3%

107.9%

21886

CORSAVAN DIESEL - 1.3 CDTi 16V 95ps ecoFLEX Van [Start/Stop]

2.22%

95.6%

100.8%

 

The sector market share of City Van sales increased slightly to 4.60% last month however, overall the number of vehicles recorded as being sold was down by 71. The average sales performance increased by 0.74% to 96.33%. Ford’s Fiesta 1.6 TDCi ECOnetic Van continued to dominate this sector with a large proportion of them in blue and coming from a large utility company. Whilst the overall sales performance of this particular model was considerably behind the guide value at 89.8%, examples in White achieved on average 97.8%.  The guide prices of most model ranges in this sector have gone down by 1% to take into account plate age depreciation with the following notable exceptions…

 

FORD COURIER (14- ) VAN (-2%)

VAUXHALL ASTRAVAN (98-06) VAN (0%)

VAUXHALL ASTRAVAN (06-13) VAN (0%)

VAUXHALL CORSAVAN (94-04) PET VAN (0%)

VAUXHALL CORSAVAN (07-19) VAN (0%)

VAUXHALL CORSAVAN (94-07) VAN (0%)

CITROEN NEMO (08-16) VAN (-3%)

FORD FIESTA (05-09) PET VAN (-3%)

FIAT FIORINO (08-16) VAN (-3%)

FORD FIESTA (05-09) VAN (-3%)

FORD FIESTA (09-18) VAN (-3%)

FORD FIESTA (03-05) PET VAN (-3%)

VAUXHALL ASTRAVAN (98-06) PET VAN (0%)

FORD FIESTA (03-05) VAN (-3%)

CAPId

Small Van

Sector Share

%CAP

%CAP White Only Condition Adjusted

18445

BERLINGO L1 DIESEL - 1.6 HDi 625Kg Enterprise 75ps

9.39%

100.8%

100.4%

24235

COMBO L1 DIESEL - 2000 1.3 CDTI 16V ecoFLEX H1 Van

3.54%

94.8%

98.3%

28277

CADDY MAXI C20 DIESEL - 1.6 TDI BlueMotion Tech 102PS Startline Van

3.10%

104.3%

104.3%

18575

DOBLO CARGO SWB DIESEL - 1.3 Multijet 16V SX Van Start Stop

2.71%

88.8%

102.1%

38471

BERLINGO L1 DIESEL - 1.6 BlueHDi 625Kg Enterprise 75ps

2.51%

100.9%

98.1%

26672

TRANSIT CONNECT 200 L1 DIESEL - 1.6 TDCi 75ps Van

2.36%

98.0%

98.0%

38515

PARTNER L1 DIESEL - 850 1.6 BlueHDi 100 Professional Van [non SS]

2.12%

100.9%

102.8%

26689

TRANSIT CONNECT 200 L1 DIESEL - 1.6 TDCi 115ps Limited Van

1.97%

105.1%

103.0%

34164

DOBLO CARGO L1 DIESEL - 1.3 Multijet 16V Van

1.72%

103.9%

103.3%

11465

COMBO DIESEL - 2000 1.3CDTi 16V Van [75PS]

1.62%

107.7%

108.1%

 

At 23.66% sector market share for Small Vans was up marginally last month whilst the actual number of vehicles sold was down by 268. The average sales performance against the guide prices was down slightly at 99.59%. This was another strong month for the small van sector and, whilst Ford’s Transit Connect models took the lion’s share of the sales, two Citroen Berlingo models accounted for almost 12% of all sector sales. A downward price movement of 1% to most models in this sector to reflect plate-age depreciation however, as always there are some notable exceptions which are listed below.

 

FIAT DOBLO CARGO E6 (16- ) DROP (1%)

FIAT DOBLO CARGO (01-10) PET VAN (1%)

FIAT DOBLO CARGO E6 (16- ) VAN (1%)

FIAT DOBLO CARGO (01-10) VAN (1%)

M-B CITAN (13- ) VAN (-3%)

RENAULT KANGOO (08-13) VAN (-6%)

VW CADDY E6 (16- ) VAN (0%)

RENAULT KANGOO COMPACT (08-10) PET VAN (-4%)

FIAT DOBLO CARGO (10- ) COMBI VAN (1%)

RENAULT KANGOO COMPACT (08-10) VAN (-4%)

FIAT DOBLO CARGO (10- ) PET VAN (1%)

VAUXHALL COMBO (12-18) VAN (-2.5%)

FIAT DOBLO CARGO (10- ) VAN (1%)

VW CADDY (10-14) C20 VAN CNG (0%)

FIAT DOBLO CARGO (11- ) DROP (1%)

VW CADDY (10-15) C20 VAN (0%)

RENAULT KANGOO (13-17) VAN (-5%)

RENAULT KANGOO (02-09) VAN (-4%)

VW CADDY (15-17) VAN (0%)

RENAULT KANGOO (98-08) PET VAN (-4%)

CAPId

Medium Van

Sector Share

%CAP

%CAP White Only Condition Adjusted

25441

TRANSIT CUSTOM 270 L1 DIESEL FWD - 2.2 TDCi 125ps Low Roof Limited Van

3.90%

99.4%

102.1%

25437

TRANSIT CUSTOM 270 L1 DIESEL FWD - 2.2 TDCi 100ps Low Roof Van

2.74%

99.5%

98.9%

18442

DISPATCH L1 DIESEL - 1000 1.6 HDi 90 H1 Van Enterprise

2.12%

99.6%

100.7%

25446

TRANSIT CUSTOM 290 L1 DIESEL FWD - 2.2 TDCi 100ps Low Roof Van

1.95%

102.9%

103.3%

31732

VIVARO L2 DIESEL - 2900 1.6CDTI BiTurbo 120PS ecoFLEX Sportive H1 Van

1.70%

102.2%

103.3%

25471

TRANSIT CUSTOM 290 L2 DIESEL FWD - 2.2 TDCi 100ps Low Roof Van

1.66%

101.4%

99.5%

31669

VIVARO L2 DIESEL - 2900 1.6CDTI 115PS Sportive H1 Van

1.62%

100.2%

100.3%

35807

TRANSIT CUSTOM 290 L1 DIESEL FWD - 2.0 TDCi 105ps Low Roof Van

1.45%

104.9%

102.3%

25475

TRANSIT CUSTOM 290 L2 DIESEL FWD - 2.2 TDCi 125ps Low Roof Limited Van

1.45%

99.0%

102.3%

24303

VIVARO SWB DIESEL - 2.0CDTI [90PS] ecoFLEX Van 2.7t Euro 5

1.29%

96.1%

97.2%

 

Whilst the sector market share was marginally up last month there were actually 591 less vehicles sold than the previous month. The average price performance against the guide was up by just under 1% to 100.56%.  Ford’s Transit Custom continues to dominate this sector taking 6 of the Top 10 slots with a combined market share of just over 11%. A downward price movement of 1% was applied to most model ranges in this sector to reflect plate-age depreciation. There are also some significant movements to individual model ranges in this edition which are listed below.  Perhaps not surprisingly, the guide values for Ford Transit Custom models haven’t changed this month with most model ranges performing on very close to the guide values.

 

FORD TRANSIT CUSTOM VAN E6 (17- ) (0%)

NISSAN PRIMASTAR (03-04) PET VAN (-3%)

M-B VITO E6 (15- ) CDi VAN (-5%)

RENAULT TRAFIC (06-14) dCi VAN (-3%)

TOYOTA PROACE E6 (16- ) VAN (-3.2%)

VAUXHALL VIVARO (11-14) VAN (-3%)

VAUXHALL VIVARO E6 (19- ) VAN (0%)

RENAULT TRAFIC (01-06) dCi VAN (-3%)

FORD TRANSIT CUSTOM VAN E6 (16-18) (0%)

RENAULT TRAFIC (01-07) PET VAN (-3%)

M-B VITO (10-15) CDi VAN (-5%)

VAUXHALL VIVARO (01-07) VAN (-3%)

NISSAN PRIMASTAR (06-15) dCI VAN (-3%)

VAUXHALL VIVARO (02-06) PET VAN (-3%)

FORD TRANSIT CUSTOM VAN (12-17) (0%)

VAUXHALL VIVARO (06-11) VAN (-3%)

NISSAN PRIMASTAR (02-06) dCi VAN (-3%)

 

 CAPId

Large Van

Sector Share

%CAP

%CAP White Only Condition Adjusted

22135

TRANSIT 280 SWB DIESEL FWD - Medium Roof Van TDCi 100ps

3.34%

113.6%

107.7%

31707

BOXER 335 L3 DIESEL - 2.2 HDi H2 Professional Van 130ps

3.09%

93.7%

98.3%

26863

SPRINTER 313CDI LONG DIESEL - 3.5t High Roof Van

3.03%

88.6%

97.5%

31217

RELAY 35 L3 DIESEL - 2.2 HDi H2 Van 130ps Enterprise

2.54%

88.8%

94.8%

30637

TRANSIT 350 L3 DIESEL RWD - 2.2 TDCi 125ps H3 Van

2.54%

91.9%

96.5%

21703

CRAFTER CR35 LWB DIESEL - 2.0 TDI 109PS High Roof Van

2.04%

93.4%

97.2%

38198

BOXER 335 L3 DIESEL - 2.0 BlueHDi H2 Professional Van 130ps

1.98%

101.4%

100.1%

9155

TRANSIT 280 SWB DIESEL FWD - Low Roof Van TDCi 85ps

1.92%

92.8%

97.3%

22129

TRANSIT 280 SWB DIESEL FWD - Low Roof Van TDCi 100ps

1.79%

100.1%

97.9%

36948

SPRINTER 314CDI LONG DIESEL - 3.5t High Roof Van

1.73%

97.9%

97.7%

With 491 fewer vans sold than the previous month the sector market share for Large Vans was down by around 1.4% whilst the average price performance was also down by just under 1%. A downward price movement of 1% to most models in this sector to reflect plate-age depreciation as well as some significant movements to individual model ranges which are listed below. 

 

FIAT DUCATO (14- ) VAN (-2%)

VW CRAFTER (06-17) VAN (-3%)

IVECO DAILY E6 (14- ) VAN (-4%)

FORD TRANSIT (00-06) T260 T280 T300 VAN (-5%)

CITROEN RELAY (14-16) VAN (-5%)

FORD TRANSIT (00-06) T330 T350 T350EL VAN (-5%)

IVECO DAILY (14-17) VAN (-4%)

IVECO DAILY (06-09) 3.5t VAN (-4%)

NISSAN NV400 (11- ) VAN (-2%)

IVECO DAILY (06-09) VAN (-4%)

PEUGEOT BOXER (14-16) VAN (-5%)

IVECO DAILY (99-04) C CLASS VAN (-4%)

RENAULT MASTER (10-17) dCi VAN (-8%)

IVECO DAILY (99-05) S CLASS VAN (-4%)

VAUXHALL MOVANO (10-17) VAN (-2%)

IVECO DAILY (99-07) L CLASS VAN (-4%)

CITROEN RELAY (06-14) VAN (-2%)

IVECO DAILY CNG (04-07) VAN (-4%)

FIAT DUCATO (06-14) VAN (1%)

IVECO UNIJET DAILY (03-06) L CLASS VAN (-4%)

FORD TRANSIT (06-14) T330 - T350 VAN (-5%)

IVECO UNIJET DAILY (03-07) C CLASS VAN (-4%)

IVECO DAILY (09-15) VAN (-4%)

IVECO UNIJET DAILY (03-07) S CLASS VAN (-4%)

M-B SPRINTER (13- ) 3-SERIES VAN (-5%)

M-B SPRINTER (00-06) PET VAN (-5%)

M-B SPRINTER CNG (09-13) SERIES-3 VAN (-5%)

M-B SPRINTER (00-06) VAN (-5%)

PEUGEOT BOXER (06-14) VAN (-2%)

M-B SPRINTER (06-13) 2-SERIES VAN (-5%)

RENAULT MASTER (03-10) dCi VAN (-2%)

M-B SPRINTER (06-13) 3-SERIES VAN (-8%)

VAUXHALL MOVANO (03-10) VAN (-2%)

M-B SPRINTER (95-06) PET VAN (-5%)

 

CAPId

4x4 Pick-up Workhorse

Sector Share

%CAP

%CAP All Colours Condition Adjusted

30784

HILUX DIESEL - Active D/Cab Pick Up 2.5 D-4D 4WD 144

8.33%

106.5%

99.6%

21665

HILUX DIESEL - HL2 D/Cab Pick Up 2.5 D-4D 4WD 144

7.58%

97.1%

97.1%

26500

NAVARA DIESEL - Double Cab Pick Up Visia 2.5dCi 144 4WD

4.55%

103.8%

103.8%

16571

RANGER DIESEL - Pick Up Double Cab XL 2.5 TDCi 4WD

3.79%

87.8%

94.0%

22413

RANGER DIESEL - Pick Up Double Cab XL 2.2 TDCi 150 4WD

3.79%

102.1%

102.1%

21901

DEFENDER 110 LWB DIESEL - XS Utility Wagon TDCi [2.2]

3.79%

109.2%

109.2%

16756

HILUX DIESEL - HL2 2010 D/Cab Pick Up 2.5 D-4D 4WD 144

3.79%

84.9%

91.4%

34428

DISCOVERY DIESEL - SE Commercial Sd V6 Auto

3.79%

98.2%

98.2%

21676

DISCOVERY DIESEL - Commercial Sd V6 [255] Auto

3.03%

92.1%

92.1%

24961

D-MAX DIESEL - 2.5TD Single Cab 4x4

3.03%

92.9%

97.4%

With actual recorded sales down by 50, the sector market share for 4x4 Workhorse Pick-ups was down by around 0.06% compared to the previous month. The average price performance remained relatively strong  - down by just under 1.5% to 99.01%

 

A downward price movement of 1% was applied to most model ranges in this sector to reflect plate-age depreciation as well as some significant downward price movements to a number of older model ranges which are listed below. 

 

DACIA DUSTER (15- ) (0%)

MAZDA B-SERIES (99-07) PICK-UP (-5%)

FORD RANGER (15- ) CHASSIS PICK-UP WORK (-4%)

MAZDA BT50 (06-08) WORK (-5%)

LAND ROVER (11-16) DEFENDER 90 110 130 TDCi (0%)

MAZDA E2200 (86-04) VAN (-5%)

NISSAN NAVARA E6 (16- ) PICK-UP (0%)

NISSAN NAVARA (13-16) PICK UP (0%)

TOYOTA HILUX E6 (16- ) WORK (0%)

NISSAN TERRANO II (98-07) (-5%)

FORD RANGER (11-16) CHASSIS WORK (-4%)

SANTANA STORM4ORCE (05-07) (-5%)

FORD RANGER (11-16) PICK-UP WORK (-4%)

TOYOTA HILUX (07-10) D-4D WORK (0%)

LAND ROVER (07-11) DEFENDER 90 110 130 TDCi (3%)

FORD RANGER (02-06) PICK-UP WORK (-4%)

LAND ROVER DISCOVERY (09- ) (-5%)

FORD RANGER (05-06) CHASSIS (-4%)

MAZDA BT50 (08-10) WORK (-5%)

FORD RANGER (06-09) CHASSIS (-4%)

NISSAN NP300 NAVARA (16-16) PICK-UP (0%)

FORD RANGER (06-09) PICK-UP WORK (-4%)

SANTANA PS10 (04-05) (-5%)

FORD RANGER (06-09) TIP (-4%)

SANTANA WORK4ORCE (06-07) (-5%)

LAND ROVER (98-06) DEFENDER 110 Td5 (3%)

TOYOTA HILUX (10-16)  D-4D WORK (0%)

LAND ROVER (98-07) DEFENDER 130 Td5 (3%)

FORD RANGER (09-11) CHASSIS (-4%)

LAND ROVER (98-07) DEFENDER 90 Td5 (3%)

FORD RANGER (09-11) PICK-UP WORK (-4%)

LAND ROVER DISCOVERY (93-05) Tdi  Td5 (-5%)

FORD RANGER (09-11) TIP (-4%)

NISSAN NAVARA (02-05) WORK (-5%)

LAND ROVER (05-07) DEFENDER 110 Td5 (3%)

TOYOTA HILUX (01-04) PICK-UP WORK (0%)

LAND ROVER (06-07) DEFENDER Td5 130 (3%)

TOYOTA HILUX (05-07) D-4D WORK (0%)

LAND ROVER DISCOVERY (07-09) (-5%)

 

CAPId

4x4 Pick-up Lifestyle SUV

Sector Share

%CAP

%CAP All Colours Condition Adjusted

35006

RANGER DIESEL - Pick Up Double Cab Wildtrak 3.2 TDCi 200 Auto

5.49%

97.2%

98.9%

25079

AMAROK A32 DIESEL - D/Cab Pick Up Highline 2.0 BiTDI 180 BMT 4MTN Auto

5.19%

97.4%

98.0%

35282

L200 DIESEL - Double Cab DI-D 178 Warrior 4WD

4.69%

97.6%

96.5%

35285

L200 DIESEL - Double Cab DI-D 178 Barbarian 4WD Auto

4.29%

96.5%

97.7%

18622

L200 LWB LB DIESEL - Double Cab DI-D Barbarian 4WD 176Bhp

4.09%

108.0%

99.8%

35284

L200 DIESEL - Double Cab DI-D 178 Barbarian 4WD

3.79%

97.1%

97.8%

19135

NAVARA DIESEL - Double Cab Pick Up Tekna 2.5dCi 190 4WD

3.19%

106.1%

100.7%

22415

RANGER DIESEL - Pick Up Double Cab Limited 2.2 TDCi 150 4WD

2.69%

98.0%

99.3%

39510

NAVARA DIESEL - Double Cab Pick Up Tekna 2.3dCi 190 4WD

2.69%

99.6%

98.5%

18623

L200 LWB LB DIESEL - Double Cab DI-D Barbarian 4WD Auto 176Bhp

2.59%

111.2%

102.2%

Despite there being 85 fewer recorded sales compared to the previous month, the sector market share for Lifestyle Pick-ups was marginally up by 0.15% last month. The overall price performance was down by just over 0.5% to 99.37%.


In this edition we have continued to address the apparent disparity in the guide values between automatic and manual gearbox derivatives and over-performance issues on high mileage models.

Most model ranges in this edition have had a downward price movement of 1% to reflect the plate age depreciation with the following notable exceptions…

GREAT WALL (12- ) (-6%)

MITSUBISHI L200 (01-07) TD/TD 113 LIFE (-5%)

MITSUBISHI L200 (15- ) DI-D LIFE (-3.5%)

TOYOTA HILUX (01-10) PICK-UP LIFE (2%)

VW AMAROK (16- ) LIFE (4%)

FORD RANGER (02-06) PICK-UP LIFE (-2%)

MAZDA BT50 (08-10) LIFE (-2%)

NISSAN NAVARA (03-05) LIFE (-2%)

MITSUBISHI L200 (06-16) DI-D LIFE (4%)

 
HGV MARKETPLACE

Whilst the number of auction entries increased last month and the sales are generally well attended, actual hammer sales have decreased recently. With such a large number and wide variety of vehicles available vendors are starting to find it just a little more difficult to achieve a first time sale. Even Euro 6 rigids are starting to find it a bit of a battle, particularly those up to 12 tonnes.

Several such vehicles have struggled to sell recently and as stocks of similar vehicles increase steadily buyers are becoming much more selective. Just a few months ago a 7.5 tonne Euro 6 rigid would be fiercely fought over and unrealistic values were sometimes paid and generally good values were achieved. The honeymoon period for this sector is well and truly over as values are now falling. In fact over the last six weeks values have quickly declined, affecting the values of some older vehicles in the process.

Heavier Euro 6 rigids are currently less common and continue to command good values. In fact we have seen some values increase a little lately. Doubtless this will change as and when availability increases. 

With some operators moving out of Euro 5 early in order to upgrade to Euro 6 and dispose of their Euro 5 vehicles whilst they can still achieve some value, the number of pre Euro 6 vehicles available has grown, giving prospective buyers the upper hand in what remains a buyer’s market for most vehicle types. Euro 5 vehicles of all types are plentiful and with many failing to quickly sell many are reappearing at subsequent auctions but with little prospect of finding a buyer at a true value.

Some auctions are having more success than others at achieving first time sales, but as is often the case, it directly relates to the mix and age of stock they have available on the day. Sales where fresh stocks of desirable vehicles appear are usually very well attended and vehicles usually sell more easily, but those without such stock the attendances can be noticeably lower.

The amount of good quality stock from truck rental and lease companies has declined recently but at one sale last month there was a good selection of such stock and the sale was very well attended. Sales were brisk with a conversion rate of 80% of that particular vendors stock was sold on-the-day.

As major operators continue to de-fleet plenty of similar vehicles keep appearing at auction but as usual the best examples quickly get cherry picked, leaving the less desirable vehicles to languish unsold.

Dealers report that they are reasonably busy fielding enquiries, but actual sales are a little more difficult to secure. Our protracted exit from the European Union is dissuading some prospective buyers from purchasing as they wait to see what type of deal we are likely to get and what effect this will have on their business, so still a lot of uncertainty to manage, possibly until the end of October.

Several dealers have money to spend but they are really unsure of what to purchase for stock, nervous of how the economy will fare in the short term and worried that they may be left with unsaleable stock. Some traders who are predominantly Euro 6 buyers are finding the market has become just a little more difficult in which to operate.

A contract hire company recently cited a similar scenario. Plenty of prospective orders in the pipeline but customers are currently holding back on committing to a deal.

Manufacturer sales remain pretty buoyant and they continue to return good revenues. The demand for Euro 6 rigid vehicles accelerating at the expense of Euro 5’s, which are having to be managed much more carefully in order to maximise revenues.

Records from our auction visits indicate that after the previous decrease in the average number of auction entries they rose last month by over 14%. However, the number of on-the-day truck sales decreased by just over 5% in relation to total entries and trailer sales also decreased, by over 7% during the same period.

This is based on six auction visits and a total of 1223 viewed lots and as we always remind you these are ‘hammer sales’ on-the-day and converted provisional sales are not included. One auction reports that the conversion rates of provisional sales have decreased to around 50%.

This month’s research indicates that: 

  • 5t to 12t – There are some exceptions but values for most variants at all emission standards have fallen.

  • 13t to 18t – A mixed bag here as many values have remained steady, but for some types values have seen a slight decrease. Some, such as the DAF LF have even seen values climb just a little.

  • Multi-wheel rigids – Some Euro 5 values have increased a touch, but generally values remain steady. Euro 6 values have generally declined slightly.

  • Tractor units – 4x2 with a few exceptions values have generally dropped a little bit across the board. Values of pre Euro 5 6x2 models have decreased slightly along with some Euro 5 examples. However, exceptions include Euro 5 Mercedes Benz Axor’s which have seen a rise in values. Euro 6 values continue to fall with some manufacturers and models being more affected more than others. The Mercedes Benz Actros bears the brunt of falling values. Values of 6x4 and multi-axle tractor have seen a very small increase for some models.
  • Trailers – Values for most types have fallen. Exceptions are platforms and tippers which have performed well recently.

7.5t to 12t Vehicles

As previously mentioned vehicles in this sector have seen values quickly fall over a short period. Plenty of available stock together with more buyers becoming more selective has seen the buyers gain the upper hand in transactions and vehicles are changing hands at values well below those of just a couple of months ago. Vehicles which were commanding high interest and high prices just a short while ago are now finding the going much tougher.

A good selection of low mileage 7.5t boxes, curtains and tippers from a respected rental company which were predominantly under four years of age and mainly DAF appeared at auction recently. All provoked strong interest and with mileage and condition making them desirable lots all sold on the day.

Older vehicles are struggling to find buyers and those that do sell it is often at prices which are nothing to shout about. Fresher examples are selling much more easily but they must have low mileage and be in good condition to do so. Even at Euro 6, higher mileage, untidy or damaged vehicles are struggling to find buyers and some will doubtless be around for a while unless vendors reduce their expectations and likewise the reserve price.

13t to 18t Vehicles

Generally, unlike 7.5-12 tonne vehicles, Euro 6 examples in this sector continue to prosper for the moment and values for most remain relatively stable. Certain derivatives which remain desirable have actually seen values increase just slightly.

Anything that is available in any quantity is seeing values beginning to be put under pressure. That said, DAF LF’s have fared particularly well recently whilst the more numerous DAF CF’s have struggled to achieve values which were being achieved in recent months.

Tippers, skip Loaders and recovery vehicles which generally sell well have also struggled a little recently. Lack of a strong export trade and the vehicles being presented in an uncared for condition is only adding to their problems. The plentiful supply of older, poor calibre stock is out of harmony with current demand which is for quality vehicles which are ready to work. The result is that much of the older stock remains unsold.

Boxes and curtains are attracting some recognition but those with short or low bodies are much less of a prospect as they have restricted use in comparison to standard bodied examples. Sleeper cabs and a tail lift generally add to their saleability.

Fridges continue to struggle a little, mainly because of the condition of the vehicles available which is not conducive with them being put back to work without encountering a considerable rectification bill. First impressions count and any carrying even minor body damage can render them unsaleable, especially so if they are multi-coloured. There have been some anomalies such as some tidy Euro 5 vehicles with good specification bodies and fridges which sold well.

Multi-wheelers     

Euro 6 examples in the open market continue to be chiefly tippers with the occasional hook-loader thrown in. Other derivatives are seen at auctions in penny numbers, although some retailers appear to have good stocks available. At present in this category of vehicle it is not so much the body type which is affecting values but chassis manufacturer with some marques currently being more attractive than others.

Aside from Euro 6, multi-wheelers remain popular and unlike most other sectors, age and condition seems less important, as long as the vehicle holds a valid MOT certificate and is fit to be put to work. If it is the right specification to fulfil a job, it is very likely to find a buyer.

Plant carriers, especially with cranes are attracting good attention and generally sell well whilst the opposite is true for refuse vehicles. Even tidy specimens of refuse trucks with low kilometres struggle to attract any attention once they reach around six or seven years of age.

The appetite for tippers, especially those carrying grabs, remains buoyant, particularly 6x4 examples which are less numerous than 8x4 examples.

A small number of late Euro 5 Mercedes Benz Axor 2533 fridges and curtains provoked good interest whilst a pair of 2011 MAN TGM 26.340 19,000 litre four compartment fuel tankers, despite being tidy and with low kilometres, failed to provoke any real interest. With a few exceptions run of the mill body types are not selling so easily unless they are late registered or have low kilometres.

Tractor Units          

The demise of TOM Vehicle Rental and Gulliver’s has adversely affected the 6x2 tractor unit market. One auction recently sold in excess of 400 Mercedes Benz Actros 2543 and 2545 Streamspace models over a period of just a few weeks. Such numbers in a short period of time will always affect the market and it certainly has. Even manufacturers with few Euro 6 examples in the open market are seeing their values affected by the large volumes recently available.

The fact that the export market for Euro 6 remains limited and will be so until countries gain infrastructure and manufacturer support. With insufficient domestic buyers the market needs to be careful controlled to maintain values, something the manufacturers are usually effective at, but they can easily fall prey to unexpected events where stocks suddenly become amplified and benchmark prices are set which often take a long time to recover, if at all.

High specification 6x2 tractor units with all the all the creature comforts attract most interest but values of run of the mill units are, for the moment anyway, struggling. 4x2 examples together with 6x4 and multi-wheelers are far less numerous and are holding their values much better.

Trailers

Although sales have fallen back a little and values have generally dipped there remains plenty of interest and good examples are finding buyers. Triaxle extendable skeletals are few in number and sell easily subject to a realistic reserve values.

Good quality triaxle curtains, especially double deck variants are plentiful but the best examples are finding homes quickly, whereas older, scabbier ones are probably destined for breaking. Good quality flats are currently relatively scarce and they attract good attention as and when they appear for sale.

Fridges are a little hit and miss at the moment. To easily sell fridges they must be in good serviceable order and of high specification. Failure to meet such basic requirements often renders them unsuitable for continued work and the lack of export means that fridges, which were once the staple diet for exporters, are being shunned.

Tippers are trading steadily but tankers are struggling and low-loaders remain in demand and as long as they meet buyers expectations they sell easily and often for good values.

A trailer that triggered energetic bidding was a 2016 10.8m two compartment triaxle Spitzer powder tanker which achieved a best bid of £45,250 but it failed to sell under the hammer.

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