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Unexpected surge in used van market

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The traditional August slump in the used van market has been bucked this year by an increase in demand, a leading auctions group has claimed.

British Car Auctions (BCA) said that van sales recorded an average 101.67% of CAP Clean in August, arguing the rise was down to a lack of stock on the market.

Duncan Ward, the BCA's commercial sales director, said: "A number of corporate vendors recorded 100 per cent sales conversions for the first time and many sales averaged over 100 per cent of CAP across the board.

"Supplies of good retail quality vans were relatively limited and buyers were bidding strongly for the best examples - particularly from the fleet sector where competition was intense.

"As this has occurred in a month that usually records weaker prices, this could yet mark a significant point in price recovery.

"If such a rise had occurred in September, it would have been equally welcomed by vendors, but much less notable. It remains to be seen if the market is going to march on into the Autumn months and perhaps consistently register values to compare with the market high-point in early 2008."

© Press Association 2009