LCV values improved during November at BCA, supported by steadily growing demand for vehicles to service the online and home delivery sector in the run-up to Christmas.
Average LCV values were up month-on-month by 0.3% (£31) to £9,892, maintaining a six-month run where average LCV values have hovered around the £10K mark. Meanwhile, average monthly values continue to be well ahead year-on-year, with November 2021 values up by £1,394, (equivalent to a 16.4% increase) compared to the same month last year. Values averaged 102.5% of guide price across the board during November.
However, while the monthly figures remain relatively stable, the weekly figures provided by BCA Valuations reveal a spike during November. These show that average values moved from £9,141 at the start of November to a high point of £10,488 later in the month as demand increased for light commercials to meet the needs of the home delivery sector ahead of Christmas.
Stuart Pearson, COO BCA UK, commented: “The used LCV market remains exceptionally competitive and average selling values at BCA have consistently outperformed guide price expectations throughout 2021. The strong market that we’ve experienced reflects the ongoing economic shift supported by consume-driven online activity plus the well-documented challenges with new LCV supplies. In addition, and as we anticipated, we have seen demand increase in the final weeks of the year to meet the needs of the hub delivery, courier and final-mile home delivery sectors.”
Further work by BCA to support LCV sales will see it continue enhancements on the BCA Buyer app, making it easier for professional buyer customers to acquire stock. It will also run a “substantial” online programme between Christmas and the New Year.
