Fleet and lease LCV market stable in April as overall values decline
A changing model mix impacted on average light commercial vehicle values at BCA in April but fleet and lease values remained strong.
The latest BCA Commercial Pulse report shows fleet and lease values were at £7,091 in April compared to £7,093 in March and £6,818 in April 2016.
In contrast, the headline average LCV value declined by £95 to £6,431, a fall of 1.4% as a result of relatively fewer late-plate, higher-value rental vans reaching the market. Year-on-year values continue to be well ahead, however, up by £465, equivalent to a 7.9% increase. Average age and mileage continued to decline, largely as a result of the influx of younger rental stock over recent months.
Despite this, the first four months of 2017 have achieved the four highest monthly average values on record at BCA.
LCV operations director, Duncan Ward commented: “The market dipped slightly in the post-Easter period but overall demand has held up well, particularly when considering external factors such as the snap election, which might have introduced some uncertainty. The model mix is starting to change as we are seeing rental volumes easing for the first time this year, while 4×4 double cab volumes continue to rise. The latter sector has seen some price pressure in recent weeks as a result of these increased volumes and the price guides have not always reflected this.”