BCA’s general manager for commercial vehicles, Duncan Ward, said: “Average values for used LCVs remained high in December as buyers competed for the limited volume of stock on offer.  Many corporate sellers held vehicles over for the New Year and dealer part-exchange stock filled the gap, resulting in a significant price rise for this sector during the month.   Supply remains the key factor driving the market and this means there is plenty of competition for the best examples reaching the market.”

“Demand remains right across the board, from older higher mileage vans through to younger ex-fleet and lease vehicles, while the few late-plate light commercials on offer can make exceptional values.    As always, good condition is the key and vans with a nice specification and in an attractive retail colour are very desirable.”

Ward added: “While this is good news for sellers, from the buyers’ perspective the outlook for 2014 is that supply issues could actually worsen.   Our view is that the overall shortage of used product and the issues of supply versus demand will see a continuation of high conversions and higher selling prices in 2014, effectively meaning we are going to see more of what is best described as a “sellers’ market”. 

Values in the fleet & lease LCV sector fell back by £151 (2.2%) in December to £6,669, largely as a result of changing model mix as some corporate sellers held stock for the New Year.  It was the second highest figure on record since Pulse began reporting in 2005.  Performance against CAP fell back two points to 101.4%, while retained value against Manufacturer Recommended Price (MRP) also fell by a point to 37.66%. 

December recorded a year-on-year value increase of £1,286 (23.8%) in the fleet and lease sector, with average age down and mileage rising over the year.  Retained value against MRP improved by 4.5 points over the year.