According to BCA, Quarter 1 2014 posted the highest figure on record. Demand for LCVs was strong, with a number of record sales around the BCA network as light commercial vehicles averaged £5,408 across the Quarter.
BCA’s data shows that, year-on-year, Quarter 1 values remain well ahead in 2014, up by £641 (13.4%) over the twelve month period. Average age has risen over the year by nearly 2 months to 59.68 months, while mileage has decreased by around 500 miles on average over the same period. Average CAP performance was up marginally compared to 12 months ago.
Commenting on the findings, BCA’s general manager for commercial vehicles, Duncan Ward, said: ‘There can be little doubt that the improving economic background is giving a boost to the used LCV market, particularly as seasonal demand increases from the building and construction industries.
‘Many small and medium-sized enterprises (SMEs) in the UK are now upbeat about their growth prospects this year and this sector is a big buyer of used light commercials. In fact, demand remains strong across the board, from car sized vans through to large panel vans and there is plenty of competition for any van presented in ready-to-retail condition.
‘Quarter 1 2014 essentially delivered more of what we have seen over the past 24 months – a shortage of good quality stock allied to decent levels of demand that generated exceptionally strong prices in the used van market,’ he added.
|
All vans |
Avg Age (mnths) |
Avg Mileage |
Avg Value |
Sale vs CAP |
|
Q1 2012 |
56.50 |
77,202 |
£4,311 |
99.14% |
|
Q1 2013 |
57.95 |
80,117 |
£4,767 |
102.85% |
|
Q1 2014 |
59.68 |
79,605 |
£5,408 |
102.94% |
(Source: BCA Pulse)
BCA has warned that sales could cool off slightly later in the year, however: “The summer months typically see values come under pressure and while retail-ready LCVs will continue to attract the buyers, less attractive or higher volume vehicles will need to be valued in line with market expectations if they are to sell first time,’ continued Ward.
‘Post-Easter values have typically dropped in previous years and sellers should avoid “chasing” the market with stock that appears over-valued.’