News

Residual values for pickups have enjoyed a strong recovery throughout 2009, after prices hit rock bottom last year.

Before the recession struck, the van market in 2008, the values for pickups was on the end of a 12-month downward spiral, reveals Duncan Ward, British Car Auctions UK CV business development manager. Pickups align themselves to the car market, where there was no confidence, he says.

"The prices dropped  in 2008 to a level where they were looked awfully cheap," he says.

However, on August 25, several pickups going under the hammer at the company's site in Measham enjoyed heavy bids. One 2009-registered pickup made more than £15,000 on a provisional bid.

"I have been very surprised on how strongly they have come back; they have come back higher than many other sectors," Ward says. "The Ford Ranger was a very difficult vehicle last year, now the prices have rocketed. In the pickup market, the 4x4 single cab is very strong - that is down to its rarity value. Any two-door and you get a lot of interest."

In July, Glass's Guide chief commercial vehicle editor George Alexander also said the market for second-hand pickups is showing significant signs of recovering.

Meanwhile, Ward says the most stable market in used vans is the sub-£2,000 sector. At the end of 2008, it held its own while the higher-priced  vans failed to retail their values.

During 2009, lower-priced vans have also enjoyed a bounce, Ward reveals.

"Twelve months ago, we called it the sub-£2,000 market; it is now the £2,500-£3,000-market. That terminology says it all - everything, age, mileage, condition, is the same.

"There is more [activity] in that market now, the overall shortage in the market means you have to buy what is available."