Two year old van values surge 10% in May

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Values of vans less than two years old surged 10.5% to £12,395 in May compared to April, according to figures from the National Association of Motor Auctions (Nama).

The average values of used LCVs at auction across the board increased by 5.1% from £4,685 to £4,924. Volumes saw a 9% to 8,394 units.

The average price of an LCV is now 14% up on where it was a year ago.

Alex Wright, chairman of Nama commercial vehicle group, said: “A sharp fall in volume and a significant reduction in age suggest the strong returns enjoyed by vendors in May could mark the high point for prices in 2014.

“With sales volumes and age having moved downwards as prices leapt forward in May, this is a pattern which is unlikely to continue over the summer. Encouragingly, some vendors have already aligned their expectations to this reality.

“Accordingly, despite the prospect of lower price levels over the next couple of months, conversion rates should hold firm which will position LCV wholesalers to take full advantage of any autumn uplift.”