Light and heavy commercial vehicles are still reporting weak
results at auctions despite some signs of recovery, according to
EurotaxGlass.
The market information provider – which publishes Glass’s Guide
to Commercial Vehicle Values – said that there has been a rising
number of retail buyers attending wholesale events, even though
attendance at several auctions was noticeably lower.
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The company said that demand for used LCVs looked set to
continue throughout May, although the recession was expected to
bite even harder in the next six months.
In terms of key trends, used light vans reported better results,
with Ford Fiestas and Vauxall Corsavans and Combos selling well,
while market sentiment for other models weakened.
Used panel vans were being more negatively affected, as “there
are just too many large panel vans chasing too few customers”.
For those being sold, vendors had to face the reality that high
residuals in the current climate were unattainable, EurotaxGlass
experts said.
Finally too many heavyweights, entered in auctions by finance
houses, were resulting in large volumes of late-year stock failing
to sell.
“This trend will continue until vendor expectations fall into
line with the reality of haulage companies battling a recession,”
the company said.
Antonio Fabrizio
