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Van Insurance News

Commercial vehicle values fall

22nd September 2008

Average commercial vehicle sale prices fell in August, though overall volumes continue to remain high, Manheim's monthly van market analysis has revealed.

The average price in August fell against July by 4.9 per cent to £2,794, and with supply now outstripping demand, volume figures increased by 26 per cent on last year.

There were some more significant price reductions in some van segments, particularly refrigeration units which fell 29 per cent to £2,361, and messaging units which were down by 18.3 per cent to £2,188.

With the money saved by purchasing a bargain second-hand vehicle, drivers may choose to take out cheap van insurance.

Alex Wright, sales director at Manheim auctions, said: "The outlook for the rest of the year still remains uncertain. It is likely that a combination of high stock levels and continued economic instability will serve to keep pressure on prices."

Last week, research from confused.com disclosed that over a million of the UK's motorists claim to have picked up their bad driving habits from TV and film characters. ADNFCR-1602-ID-18790983-ADNFCR