Strong demand across the board in the wholesale market brought a welcome boost to LCV used values.
Latest Cap HPI figures show values fell by an average of 0.6% at the three-year/90,000-mile mark, compared to the average monthly drop this year of 1.6%.
The firm added that the market has been steadily improving since September and is currently showing no signs of letting up.
Medium vans, which account for around 29% of all used LCVs sold in the wholesale market, saw values fall by 0.4%, compared to the 2019 monthly average of 0.8%. Values in the large van sector were down 0.3%, compared to the monthly average in 2019 of 1.9%.
The 4×4 pickup lifestyle sector saw a continued revival with overall prices increasing by 0.3%. However, Cap added that only the cleanest examples in the most desirable colours with extras such as hard tops or secure load covers are selling with any kind of ease.
Steven Botfield, senior editor, commercial vehicles and motorcycles at Cap HPI, commented: “The auction halls remained busy in November with every indication that retail demand remains in good health. Buyers reported strong retail demand albeit confined largely to the panel van sectors. Dealers are likely increasing their stock levels, so they don’t miss out on any spikes in demand early in the new year.”