Aston Barclay gives perception into used pick-ups following HMRC fiasco

Aston Barclay has launched the trade’s first used decide up insights information following curiosity within the phase stemming from HMRC’s choice to drop its new Profit in Sort taxation laws for one-tonne fashions in February.

“We file sale information on used pick-ups and based mostly on the elevated curiosity within the sector we have now determined to share this with the trade. They at the moment account for between 8-12% of the used LCVs we promote throughout the group.

“We’re seeing ex-fleet automobiles going beneath the hammer alongside ex-recreational automobiles throughout our 5 weekly LCV gross sales, so we’re nicely positioned to present a view in the marketplace,” defined Geoff Flood, Aston Barclay’s head of LCVs.

Aston Barclay has been conserving an in depth eye on the sector and for each 20 double cab automobiles going beneath the hammer, it’s promoting only one single cab pick-up at public sale.

Single cabs are subsequently fairly uncommon and once they do hit the used market costs are robust regardless of their getting older automobile parc. In Q1 24 on common a single cab pick-up was 126 months previous with 76,321 miles on the clock, nevertheless it nonetheless made a wholesome £7,867.

In Q1 2024 double cab pick-up costs averaged £11,177 at 86 months and 75,079 miles, which is the bottom for 5 quarters, however displays the overall fall in values throughout the LCV sector over the previous six months.

Sometimes, single cab pick-ups are run by companies whereas the double cab pick-up sector is cut up between enterprise and leisure use which might make alternative cycles, mileage, situation and costs much less simple to foretell.

“The brand new pick-up market has been very buoyant over the previous 18 months with gross sales rising by 38.7% yr on yr in 2023 to over 41,000 automobiles. Within the first 4 months of 2024 gross sales rose by 9.6% yr on yr to 13,151 automobiles,” defined Flood.

“This new gross sales progress has contributed to greater used inventory volumes coming into the market which explains the elevated focus from each patrons and distributors,” he stated.