On average, one Transit van is purchased every 180 seconds in the UK, and in 2021 it was Britain’s best-selling vehicle. The problem is that not only has the cost of purchasing a Transit van increased but there are also issues with availability, with some customers waiting for as long as 6 months.
But why have Transit vans become so expensive, and why are they in such short supply?
A big reason is the fact that there are currently disruptions in the supply chain thanks to an unprecedented shortage of chips. Although it was initially hoped that this would be resolved quickly, the reality is that it could last much longer than predicted.
Car manufacturing was down by 19.2% in the first half of 2022, and some estimates predict that issues might continue until 2024.
From inflation and interest to manufacturing and production costs, everything’s on the rise at the moment. This means that dealers are paying more for Transit vans, and that increase in price is being passed on to customers.
This isn’t an issue that’s unique to new vans, however, as the increased demand for used vans means that the price has rocketed. In 2021 prices hit record-breaking levels, and there were even reports that used vans were selling for more than brand new ones.
A knock-on effect
If customers aren’t able to buy a new van, then it stands to reason that they’ll choose a used van instead. Although it might seem like a simple solution, the reality is that many used vans come from leasing companies at the end of a lease.
The issue is that although it might be the end of the lease, if companies aren’t able to supply customers with a new van, then they’ll usually extend the agreement and allow the customer to keep their van - which means that they’ll have no vehicles to sell.
What’s the answer?
If your Transit van has seen better days, then it’s clear that buying a new or used one is not as simple - or cheap - as you might think.
A more cost-effective option at the moment might be to replace or recondition your Transit van engine. This is far cheaper than trying to source a new vehicle and means that you won’t have to worry about long lead times or inflated costs.