Light commercial vehicle values fell slightly in March but remain at near record levels.
Latest figures from BCA show the average value declined £23 against February to £6,526. Year-on-year, average values are up by £647, equivalent to an 11.0% uplift, with the significant falls in average age and mileage continuing to be a factor.
BCA’s LCV operations director, Duncan Ward commented: “Average selling price data might suggest a buoyant market, but the reality is the market has weakened and conversion rates have been under pressure. BCA’s profile of stock is becoming younger and lower mileage and this is a significant driver of the increasing values we report.”
The fleet and lease LCV sector saw average values fall by £86 (1.1%) to £7,093 in March. Despite this, average values for fleet and lease LCV stock have been consistent since rising above the £7,000 mark in October 2016 and the last six months have seen the highest average values on record.
Retained value against MRP (Manufacturer Recommended Price) improved very marginally from 36.02% to 36.09%. Year-on-year, values were up by £67 (5.4%), with average age and mileage declining when compared to the same period in 2016.
