Market analysis by Manheim has shown that buyers have shifted their attention away from the larger LCVs to small panel vans and car-derived vans.

The reason is due to a persistent lack of larger panel vans. The knock-on effect is that whilst headline prices of used vans at auction has remained strong in May - rising by 9.2% over 12 months to £4,741 - the volume of smaller vans has increased by approximately 8%.

Commenting on this trend, Matthew Davock, head of LCV at Manheim, said: “2014 has seen a continuation of the record levels of demand in the used van market. We have seen two months of significant year on year increases in van de-fleets; these vans have been snapped up by eager buyers looking to secure price range quality stock.”

“Interestingly, the mix of vans has changed over the past 12 months, with many more car-derived and small panels vans coming up for sale. Conversely, the lower volumes of larger panel vans we're seeing is, we believe, driving a shift in buyer behaviour toward smaller vehicles.”

Due to its relative scarcity, the large panel van (<3.0t) - continues to rise in value at auction.