Sold volumes of light commercials improved at BCA during May but average monthly LCV values slipped as a result of a shifting product mix and some seasonal pressures.
The data reveals that used LCVs averaged £9,639 in May, a fall of £686 (6.6%) over the month and on the back of a substantial rise in April, when values reached their highest point in over a year.
Year-on-year, however, values were up by £122 (1.3%) and BCA noted that LCV value movements between April and May were similar in 2022, underlining that some seasonality is returning to the markets as the effects of the pandemic recede.
Sold volumes lifted during the month, a reflection of some improved returns in the contract hire sector, while performance against price guides fell to 98.9% (from 102.4% in April).
BCA noted that sellers are being increasingly pragmatic in meeting buyers’ value expectations. Professional buyers continue to seek vans suitable for use in the home delivery sector, but condition and presentation have become increasingly more important across all LCV sectors with a widening gap between the best and worst presented vehicles.
Stuart Pearson, BCA COO UK, commented: “Supply and demand was well balanced in May, with sellers and buyers being generally in tune around price expectations. As is typical for this time of year we’ve seen numbers lift in the fleet and lease sector, however the mix of vehicles has created some interesting challenges for the market.
“The gap between the best and worst vehicles has certainly widened and we’re working very closely with sellers to improve the condition of vehicles to maximise the potential for first time sale.”
He added: “Our focus remains on delivering the most comprehensive online LCV sales programme to meet the needs of our customers, and the reaction to our Sunday online sale has been incredibly positive for all involved.”
