The National Association of Motor Auctions (NAMA) LCV market report for February shows taverage values of used LCVs at auction increased by 2%.
The report shows that during February the average values of used LCVs at auction across the board increased from £4,315 to £4,387 and total sales rose in February from 6,138 to 6,523, representing a month-on-month increase of a 6%.
It says all key market indicators in February confirmed that there continues to be strong demand in a robust market. Following a slow start in January it is positive to see that despite another rise in volumes that prices rose by a solid 2%. With conversion rates hitting 80% the report says it is clear that demand remains buoyant with further strong performances predicted for 2013.
Alex Wright, Chairman of the NAMA Commercial Vehicle Group commented: "It is encouraging to see that 2013 is shaping up to be a strong year for the LCV auction market.
"The underlying strength of the market achieved last year has provided a solid foundation for 2013 which NAMA expects to continue to improve during 2013."