BCA reports that the used market for light commercial vehicles (LCV) remains strong, with sold values in excess of guide prices and sale conversions at unprecedented levels, averaging over 95% in most sales.
Mirroring the value progression seen by BCA across the wider used vehicle marketplace, average LCV values at BCA rose from £5,741 in April to peak at £8,096 in June. Average values stabilised at £7,698 in July as stock levels rose significantly and average online sales volumes increased from around 250 vehicles daily to over 500 daily in July.
Stuart Pearson, BCA COO UK Remarketing commented “Professional buyer interest has been strong since the lockdown period started and has really accelerated in recent weeks. There is significant demand across the board with particular strength in late year, low mileage vehicles which have been in very short supply.”
Pearson continued “Conversions, average selling price and performance against guide values at BCA all remain at high levels, with sold volumes rising and the number of buyers participating increasing significantly.”
He added “BCA has the largest registered professional buyer base for light commercial vehicles and typically has a high penetration of digital sales for LCVs. It meant our buyers were already comfortable with the benefits of purchasing remotely when the lockdown was introduced and BCA was capable of delivering large volumes of LCV stock consistently through the online auction programme.”
Pearson concluded “Demand from the burgeoning home delivery and courier sectors has driven demand in recent weeks and our dealer customers have anecdotally reported record levels of retail sales for used LCVs during June and July.”
BCA stages online LCV sales daily with an entry of panel vans, car derived vans, dropsides, tippers, minibuses, crewcabs, Lutons and pickups on offer from vendors including UKCGR Commercials, BCA Outsourced Solutions, Inchcape, ALD Automotive and Black Horse alongside a wide range of other fleet, lease, rental, finance and dealer sellers.