Average light commercial vehicle values reached a record high at BCA in February while fleet values also rose.
Average values were up by £242 (3.5%) during the month to reach £7,069 – the first time on record that they’ve risen above £7K. Digital buyers continued to be active, notably when wintry conditions made travel difficult. Year-on-year values remain well ahead, up by £520, equivalent to a 7.9% increase over the period. Average age and mileage were marginally down year-on-year.
BCA also reported that volumes remained high as the company introduced an enhanced sales programme with additional sales staged nationwide.
Fleet and lease LCVs rose in value in February following January’s fall. Values climbed by £174 (2.3%) to £7,695 in February, with retained value against MRP (Manufacturer Recommended Price) increasing by over half a point to 37.90%. Year-on-year, values remain well ahead, up by £516 (7.1%), with average age rising slightly and mileage declining when compared to the same period in 2017.
BCA’s LCV operations director, Duncan Ward, commented: “Both professional buyers and end users are bidding confidently across a range of makes, models and configurations of panel vans with strong competition for examples that are in ready-to-retail condition. With the uplift in major construction projects and new build housing nationwide, tippers and dropsides are likely to remain at premium values for some time to come.”