June LCV values saw some strong year-on-year rises along with marginal changes from May, although coming months could see rising market pressures.
The BCA Commercial Pulse figures for the fleet and lease LCV sector show year-on-year values were up by £420 (6.2%), with average age and mileage declining when compared to the same period in 2016. However, the picture compared to May remains static, with a £5 average decline and a marginal improvement in retained value against MRP (Manufacturer Recommended Price).
Average year-on-year values remain well ahead, up by £551, equivalent to a 9.3% increase over the period. Average age and mileage continued to decline, reflecting the growing share of corporate stock sold as well as the higher volumes of younger rental stock seen over recent months.
Compared to May, average light commercial vehicle values remained steady, with the headline value rising by just £7 over the month.
BCA’s LCV operations director, Duncan Ward commented: “History shows us that the commercial vehicle market typically slows over the summer months and we would expect to see pressure continuing on average values between now and the new registration plate in September. While average selling price appears resilient, this is largely due to the influence of a younger, lower mileage profile of vehicles currently reaching the market and the growing volume of corporate stock handled by BCA.
“The model mix continues to change as rental volumes ease, and 4×4 double cab volumes continue to rise. The latter sector continues to experience price pressure and this can make guide values look overly optimistic. Condition and specification remain as important as ever and sellers should be aware that it is vital to appraise and value vehicles accurately to reflect current market sentiment.”