Industry News from Yes Insurance

The average price of used vans fell by 25.2 per cent last month, new research has found.

According to the monthly Manheim market analysis, the mean price of a wholesale used van was £2,536 in December, which is £854 less than December a year previously.

Overall, average month-on-month values dropped, except for prices in the car van and large panel van segments of the market.

Remarking on December's figures, Manheim Auctions sales director for commercial vehicles Alex Wright cited oversupply as one of the factors driving price changes.

"This, when combined with obvious economic factors, goes a long way to explain why the December values are 25 per cent behind where they were in December 2007," he explained.

However, Mr Wright said, January has experienced a "strong start" and buyers are being more responsive to reserve prices.

The news may affect van insurance policyholders who are looking to trade in their current vehicle for a different or newer model.

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