Fleet & lease values fell by £381 (5.5%) over the month, while part-exchange values also declined (by £172 or 4.4%) and the low volume nearly new sector saw values climb. Despite this, year-on-year values remain ahead by £138 (2.6%), with age and mileage increasing. BCA found that performance against CAP was down by half a point compared to 2014.
Year-on-year table: All vans
|
All vans |
Avg Age (mnths) |
Avg Mileage |
Avg Value |
Sale vs CAP |
|
Jan 2014 |
57.90 |
79,654 |
£5,322 |
102.34% |
|
Jan 2015 |
59.55 |
79,676 |
£5,460 |
101.71% |
‘We saw some price pressure in the used LCV market in January largely as a result of the significant upturn in volumes available to buyers,’ commented BCA’s head of commercial vehicles, Duncan Ward. ‘The sharp rise also resulted in multiples of some makes and models reaching the market which is giving buyers plenty of choice and further compounding price pressures.
‘There are also some issues over quality and presentation as vehicles from corporate sources are returning at generally higher ages and mileages than we were seeing a year ago. It’s a timely warning for vendors that if the quality of stock is declining this will impact on the price performance.
‘We are seeing a two-tier market develop as professional buyers and end users compete strongly for the best presented “retail ready” vans where values typically outstrip price guide expectations by some margin. In contrast, hard-worked lower spec vans in corporate colours need to be competitively valued to create interest.’
Values for fleet and lease LCVs averaged £6,478 in January – a fall of £381 (5.5%) compared to December’s figure. CAP performance averaged 100.7% and retained value against Manufacturer Recommended Price was static at 38.38%. Year-on-year, values were up by just £24 (0.3%) with age and mileage higher than in 2014.
Year-on-year table: Fleet & lease vans
|
Fleet/Lease |
Avg Age (mnths) |
Avg Mileage |
Avg Value |
Sale vs CAP |
Sale vs MRP |
|
Jan 2014 |
40.80 |
69,044 |
£6,454 |
101.92% |
36.83% |
|
Jan 2015 |
42.47 |
71,320 |
£6,478 |
100.70% | 38.38% |
Part-exchange LCV values also declined compared to December, falling by £172 or 4.4%. CAP average comparisons were down slightly at 105.0%, but continue to outperform the fleet & lease sector by a considerable margin. Year-on-year values were behind by £76 or 2.0%, with the average van being seven months older and having a slightly higher mileage.