Used van prices rose by a record 54% in 2020 and are likely to increase further in 2021, due to an ongoing trend of high demand and low stock for used LCVs.
Vehicle resale specialists Aston Barclay says this trend in 2020 led to Aston Barclay reporting record prices for vans and double-cab pick-ups.
In 2020, used van prices started the year at £4,923 and ended the year 54.5% up at £7,608, a rise of £2,685. Much of this rise was attributed to prices rising from quarter three to quarter four where prices rose by 22.6% (£1,405) from £6,204 to £7,608.
Year-on-year used van prices rose by 66.3% (£3,035) from £4,573 in Q4 2019 to £7,608 in Q4 2020.
Double-cab pick-up prices also finished 2020 at a record price of £11,211, a rise of £1,454 (14.9%) from Q1 (£9,757).
Geoff Flood, Aston Barclay’s national LCV manager, says there is no sign of the market slowing down. “The first few weeks of 2021 have been no different with lots of buyers in the market with limited stock available to bid on, so prices have remained very strong,” he says.
“We anticipate this trend continuing throughout 2021 with manufacturer supply, extended lease contracts and greater demand from sectors such as home delivery and SMEs all contributing to what we think will be another record year of demand and prices.”