Fleet and lease LCV values fall in March
Light commercial vehicle values fell slightly in March but remain at near record levels.
Latest figures from BCA show the average value declined £23 against February to £6,526. Year-on-year, average values are up by £647, equivalent to an 11.0% uplift, with the significant falls in average age and mileage continuing to be a factor.
BCA’s LCV operations director, Duncan Ward commented: “Average selling price data might suggest a buoyant market, but the reality is the market has weakened and conversion rates have been under pressure. BCA’s profile of stock is becoming younger and lower mileage and this is a significant driver of the increasing values we report.”
The fleet and lease LCV sector saw average values fall by £86 (1.1%) to £7,093 in March. Despite this, average values for fleet and lease LCV stock have been consistent since rising above the £7,000 mark in October 2016 and the last six months have seen the highest average values on record.
Retained value against MRP (Manufacturer Recommended Price) improved very marginally from 36.02% to 36.09%. Year-on-year, values were up by £67 (5.4%), with average age and mileage declining when compared to the same period in 2016.
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