The latest Commercial Pulse data shows that saw fleet and lease average values were up from £6,754 in June, to £6,779 in July. Values have been relatively stable over the past three months following on from the highpoint recorded in April.
Retained value against MRP (Manufacturer Recommended Price) improved marginally to 35.15%. Year-on-year, values were up by £499 (7.9%), with performance against MRP up by one percentage point. Both age and mileage have dropped over the year, with average mileage falling by almost exactly 10,000 miles.
Meanwhile the headline average value of a used LCV sold at BCA rose for the second month running, climbing by just £23 to £5,931 in July, but up by £387 or 6.9% compared to a year ago.
BCA’s head of commercial vehicles, Duncan Ward commented: “As we said last month, we expected to see some pressure on average values between now and the new registration plate in September. Volumes have risen in the wholesale markets with continuing questions over poor condition stock and while average selling price appears to be holding up, this is largely due to the influence of a younger, lower mileage profile of vehicles currently reaching the market. Buyers have more choice now than they have experienced at any time this year and are understandably focussing on the best presented vehicles.”
He added: “It is vital for sellers to prepare their vehicles well and appraise and value them in line with market sentiment. There is plenty of interest from buyers in well presented, good quality commercial vehicles, but poorer presented vans must look good value for money if they are to compete.”