Fleet and lease values record 5.7% year-on-year rise
Average and fleet/lease light commercial vehicle values continued to rise in May but BCA warns that market pressures continue.
Latest Commercial Pulse figures show that fleet & lease vans rose to £7,179 last month – up 5.8% from May 2016 and 1.2% compared to April 2017.
Overall average light commercial vehicle values improved by £21 to £6,452 in May. Volumes continued to rise during May, with higher value corporate stock increasing its share of the mix which will have impacted the average values achieved. Countering this, volumes of late-plate rental vans continued to decline.
Year-on-year values continue to be well ahead, however, up by £560, equivalent to a 9.5% increase. Average age and mileage continued to decline, largely as a result of the influx of younger rental stock over recent months.
BCA’s LCV operations director, Duncan Ward commented: “Buyer demand was patchy during May as professional buyers had a choice from a wide selection of stock and inevitably cherry-picked the best presented and most desirable vehicles. The bank holidays and half-term were additional distractions that fragmented demand during the month.
“The model mix continues to change as rental volumes ease, and 4×4 double cab volumes continue to rise. The latter sector continues to experience price pressure and this can make guide values look overly optimistic. Condition and specification remain as important as ever and sellers should be aware that it is vital to appraise and value vehicles accurately to reflect current market sentiment.”