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‘Van Man’ Confidence on the Rise?Back

VanMan‘Van man’ is now travelling fewer miles per annum as they go about their work, a sign that increasing numbers are able to secure work closer to home as the economy improves. This is the suggestion tabled by NAMA reflecting upon a clear trend in vans across all but the oldest age bandings as they enter the remarketing cycle.

“Across all age and weight categories, except in the 6+ range, our analysis reveals a marked change in mileage levels. While average age in each category remains broadly static, the stock now coming to auction is doing so with distinctly lower mileage levels. Against an improving economic backdrop, it seems likely that drivers do not need to travel so far in search of work,” observes Louise Wallis from NAMA.

LCV mileage trends at auction July ‘15 to July ‘14 – across all weight bands up to 3.5 tonnes.

LCV Age Category YoY Mileage Variation +/- mileage at auction
< 2 (1,777)
2 – 4 (4,905)
4 – 6 (20,131)
6+ 4,326
Total (22,487)

In a steady-state market, it might be expected that this downward shift in mileage would have a positive impact upon values and conversion. This has not been the case; an increase in volumes coming to auction of 16% saw both values and conversions fall back in July.

For fleets and dealers what this trend does indicate is that the end user may be more confident. It suggests that moves towards PCPs may be a very viable option, albeit a conservative view on GMFVs would seem to be both prudent and appropriate to ensure a long-term customer.

Issued on behalf of NAMA by Rocket Performance

Posted by Sue Robinson on 28/08/2015