The latest data released about the state of the van insurance market shows that sales of light commercial vans slumped towards the end of last year as the Christmas period stunted demand. This led to a decrease in the value of Light Commercial Vehicles, and for those willing to part with their cash before the commencement of 2012 there were some excellent deals to be had.
The average price paid for an LCV by van insurance customers in the run up to the Christmas period was £4,275, which represents a £28 decrease on the prices paid in November. This represented 98.5% of the guide price, so although savings were not significant, some van insurance customers walked away with a better deal than they might have expected.
In comparison to the same month in 2010, the value of LCVs sold was £208 higher in 2011, although this figure should be put into context, with many van insurance customers who may have been in the market for an LCV left housebound by the snow.
Industry insiders are not overly concerned by the figures as such a dip towards the end of the year is typical, before sales take off again in the new year. The information sifting through from January confirms this point, with sales for some retailers hitting record highs, a sure sign that van insurance customers have money to spend.
Duncan Ward, general manager at British Car Auctions, added that: “December is often a weaker month for price performance due to weaker demand from van insurance customers and a shortened trading period. However, retailers should take confidence from the fact that the last four months of 2011 comfortably outperformed the rest of the year.”
If you’re looking to get a great deal on a new or second-hand van then you will want the van insurance to match. Van Compare scours the market on your behalf to bring you great prices on van insurance policies from the leading UK insurers.
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