Used LCV values accelerated at BCA in May 2021, hitting the third highest average monthly value on record for light commercials sold online.
Values were up 3.8% (£346) compared to April, reaching £9,375 and continuing to outstrip market expectations by a significant margin. BCA averaged over 107% of guide prices across the month.
The rise comes on the back of continued high levels of demand continued; over 2,000 professional buyers purchased stock during the month.
Sale conversion rates remain incredibly strong, with significant levels of demand for younger, retail-quality vehicles.
Stuart Pearson, COO BCA UK, commented: “During 2021 we have seen used LCV values accelerate significantly, as the rise in online shopping continues to drive demand from the home delivery, courier and final-mile sectors.”
Pearson added: “Our sales continue to be exclusively online and we’re able to reflect changes in demand very quickly, providing incredible insight into how the market is operating.”
Looking ahead, BCA expects that demand in the wholesale arena will typically continue to outstrip supply and values will remain extremely robust, due to the ongoing supply pressures in the new van market.
“Whether this continues to reach the dizzy heights that we’ve seen over the last 18 months is hard to predict, but after everything that we’ve seen happen in the market, nothing should come as a surprise,” Pearson stated.
