BCA found that average values across the board rose by exactly £100 in September, equivalent to a 1.8% uplift compared to August. Fleet & lease values improved by £228, dealer P/X stock rose by £32 to the highest point seen this year and the average value of nearly-new stock rose by £707, largely as a result of changing mix in a low volume sector.
Year-on-year values were ahead by £47 (0.8%), with the average van in 2015 being slightly younger but noticeably lower mileage, down by 5,000 miles at 75K.
Year-on-year table: All vans
|
All vans |
Avg Age (mnths) |
Avg Mileage |
Avg Value |
Sale vs CAP |
|
Sept2014 |
56.39 |
80,591 |
£5,560 |
103.94% |
|
Sept 2015 |
55.70 |
75,348 |
£5,607 |
99.77% |
BCA’s LCV operations director, Duncan Ward, commented “We are now seeing the return of more typical market conditions with balanced supply and demand and elements of seasonality taking effect. The market was strong in September with average values increasing across the board and good levels of demand from buyers for well presented, good quality commercial vehicles.
“However, we continue to see a large number of vehicles in poor condition and this has a significant impact on price and conversion rates. The difference in average value between a condition 5 and a condition 4 van is several hundred pounds and around 12 percentage points when compared to CAP. Average conversion rates rise sharply as condition improves, underlining that condition equates directly with saleability and demand.”
The fleet and lease sector recorded average values of £6,416 in September, an increase of £228 (3.6%) over August and the first monthly rise in values since March of this year. CAP performance rose marginally to 99.3% and retained value against MRP (Manufacturer Recommended Price) improved slightly to 33.95%. Year-on-year, values were down by £134 (2.0%), with performance against MRP down by more than two percentage points.
Year-on-year table: Fleet & lease vans
|
Fleet/Lease |
Avg Age (mnths) |
Avg Mileage |
Avg Value |
Sale vs CAP |
Sale vs MRP |
|
Sept 2014 |
41.40 |
72,953 |
£6,550 |
103.50% | 36.26% |
|
Sept 2015 |
42.07 |
69,340 |
£6,416 |
99.30% | 33.95% |
Average part-exchange LCV values rose for the second month running, up by £32 (0.8%) to £3,842 – the highest monthly value recorded this year. CAP average comparisons fell back by a point to 101.1% but remain ahead of the fleet & lease sector. Year-on-year values were ahead by £264 (7.3%), although CAP performance declined by three points over the year.
Year-on-year table: Part-Ex vans
|
Part-Ex |
Avg Age (mnths) |
Avg Mileage |
Avg Value |
Sale vs CAP |
|
Sept2014 |
81.02 |
95,826 |
£3,578 |
104.24% |
|
Sept 2015 |
80.66 |
88,421 |
£3,842 |
101.19% |
Nearly-new LCV values averaged £14,152 in September – an increase of £707 (5.2%) compared to August. As always, this has to be taken in the context of the very low volumes reaching the market and the model mix factor, as well as the continuing availability of ‘new shape’ models reaching the used market.