According to new data from British Car Auctions (BCA), the combined effects of limited supply and increased demand from businesses starting to feel more confident about the economy has continued to push up commercial vehicle values.
In particular, the attraction of quality vans coming into the market for the first time from big corporate fleets has seen the value of vehicles from the fleet and leasing sector reach record levels for the third consecutive month.
“Professional buyers – the retail dealers who want vehicles for their forecourts – are competing strongly for a relatively limited supply of vehicles”, explained Duncan Ward, BCA’s General Manager, Commercial Vehicles. “Commercial vehicles entered for sale by company fleets and corporate operators are highly prized because they often come with a comprehensive service history and just one owner’s name in the log book. Professional buyers who typically buy corporate vans at auction are finding they have to bid harder and higher to secure the same stock and this trend is set to continue over the coming months.”
According to the BCA data, values for vans from fleet and leasing companies have improved by £110 (1.7%) in October compared to September to £6,518 – the third consecutive month a record value has been achieved and the seventh record value seen in 2013.
Year on year, a value differential of £1,317 (25.3%) has been seen for vehicles from the fleet and lease sector, although average age and mileage have both fallen compared to the same period last year.
Year-on-year table: Fleet & lease vans
Avg Age (mnths)
Sale vs CAP
Sale vs MRP