LCV values rise as two-tier market develops
Average light commercial vehicle values at BCA reached a new record in October with the best stock attracting premium values.
Data for last month shows the headline figure reached a new record level of £6,764, driven by record values in the fleet & lease and dealer part-exchange sectors. However, although bidding was strong on the best specified and presented vehicles, the gap between these and the hard-worked, damaged or base specification examples grew. Year-on-year values were up by 6.0% (£386).
Within the fleet and lease LCV sector, average values improved by 3.9% (£293) over the month, establishing a new record value of £7,784. Retained value against MRP (Manufacturer Recommended Price) improved by a point to 38.49%. Year-on-year, values are up by 8.2% (£594), with average age and mileage down.
Despite seasonal factors now coming into play, BCA’s LCV operations director, Duncan Ward said the approaching Christmas period is creating pockets of demand for large volume vans suitable for delivery work.
He added: “We continue to experience plenty of demand for tippers, dropsides and Lutons, with scarcity driving value for these vehicles. There has been steady demand for vehicles to service the online shopping sector, the construction and civil engineering industries and the small business and entrepreneurial start-up sector.”