CommercialFleet

LCV values rise in September

The average values of used LCV’s at auction across the board rose by 4.4%, according to data from the National Association of Motor Auctions.

Both sales volume and average age rose by 1.4% in September, yet across a buoyant auction scene where conversion rates hit 73%, prices responded positively, rising by more than 4%.

Increased sales of new LCVs suggest that high mileage vehicles are still in harness on extended contracts will soon have been released from fleet service.

Improvements were recorded for LCVs of all ages with the oldest stock posting the biggest percentage gain of 15.6%.

With the exception of LCVs aged two years and less, volumes increased modestly for all age bands with an overall increase of 1.4% being recorded. The expectation is that the total number of LCVs being de-fleeted will either fall or hold steady at around this level over the remainder of 2013 which should help to ensure that all used stock can be re-marketed to its full potential.

Alex Wright, chairman of NAMA commercial vehicle group said: "Despite there being little relief in respect to age, mileage and volumes, overall in September, prices increased by more  than  4% which points  towards there being plenty of demand for LCVs at all ages.

"Looking forward to the first quarter of 2014, it would appear that there is little to delay further price rises being posted for the most desirable used lots. For harder used LCVs it would seem that price levels are most likely to simply tread water which in itself would represent a good result.

"It might now be advisable for vendors to step back from the current market performance, which has admittedly been remarkably strong and take stock."

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