Trade activity picked up in advance of the expected September rush and values improved by £99 to £4,211 in August, compared to the £168 fall recorded in July.
It is the first sign of value improvement recorded since the spring months and the record values achieved in April. It also underlines the return of seasonal trends to the marketplace, with a slower summer season leading into a busier autumn period.
Duncan Ward BCA’s general manager - commercial vehicles commented “Professional buyers were notably more active in August, buying stock to get ahead of the game before the anticipated hike in demand expected in September. Buying was still selective, however, with well-specified vehicles in good condition outperforming the market by a considerable margin, with little appetite for vans requiring refurbishment or repair. The buyers serving the retail market are looking for retail-ready vehicles to take away and sell tomorrow, not vehicles to sit in the repair bay or spray booth. High mileage and scruffy condition is a major turn-off, unless the vehicle is a rare and desirable specification.”
He added “The budget market is more forgiving and tends to attract the non-trade buyer in greater numbers. A decent combination of condition, colour and specification is usually enough to stimulate interest even at a higher mileage, although obvious cosmetic damage is a big turn off.”
LCV values averaged £4,211 across the board in August, a 2.4% improvement against July’s values, with nearly-new and part-exchange values increasing. Fleet & lease average values, however, fell by £73 (1.5%) to £4,757 – a similar decrease to that recorded in July. Values have now fallen for four months in a row, following a run of six consecutive ‘record months’.