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Van glut is hitting prices
27th June 2002, Page 51
27th June 2002
Page 51
Page 51, 27th June 2002
— Van glut is hitting prices
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• The competitive deals struck by van manufacturers with the big rental and leasing fleets mean that lots of late-registered used light commercials are flooding onto the market. This has created a growing oversupply problem, and must be stemmed now, warns senior Cap Red Rook editor David Hill.
"There are too many one, two and three-year-old vehicles around," says Hill. "Auction sites are full of vehicles awaiting disposal."
He believes that the van manufacturers must bite the bullet and slow production, reducing the pressure on sales people to do deals that can only cause damage further down the line. "This would also reduce the stockpiles of new, unregistered vehicles parked at docks and in fields all over the country," he concludes.