Average values for light commercial vehicles rose by £50 in May to £5,558.
The figures, released by BCA Commercial Pulse, aquate to a 0.9% rise compared to April. According to the company fleet & lease values fell marginally, while part-exchange values improved significantly over the month, and nearly-new values rose to the highest point this year.
Further statistics also revealed that year-on-year, average values were down by £29 (0.5%) compared to April 2014, with both age and mileage slightly higher in 2015. Performance against CAP improved by two points compared to 2014.
BCA’s head of commercial vehicles, Duncan Ward, said: “While average values have stopped their meteoric year-on-year climb as volume has returned to the marketplace, demand has remained steady. Buyers compete strongly for good condition, later plate vehicles, and any unusual or scarce derivatives will find a ready audience. Condition is key to success, however, and buyers expect to see a full service history.”
He added: “Poor condition stock, or readily available models in corporate colours need to be sensibly valued to sell first time as the competition is fierce for the buyer’s wallet.”
BCA Commercial Pulse's figures also showed that values for fleet and lease LCVs averaged £6,447 in May – a fall of just £12 (0.2%) compared to April. CAP performance improved to 101.26% and retained value against Manufacturer Recommended Price was static at 35.6%. Year-on-year, values were down by £352 (5.1%).
They recorded a £240 (6.7%) increase in part-exchange LCV values in May compared to April, as values reached their highest point this year. CAP average comparisons rose by nearly two points to 104.2% and continue to outperform the fleet & lease sector by some margin. Year-on-year values were ahead by £22, despite the average PX van being both older and higher mileage in 2015. CAP performance was up, year-on-year.
Nearly-new LCV values averaged £14,338 in May the company said – an increase of £902 compared to April and the highest value recorded since March 2014. CAP comparisons improved to 99.26%.
However, BCA Commercial Pulse stressed that this has to be taken in the context of the very low volumes reaching the market and the model mix factor, as well as the increasing availability of ‘new shape’ models reaching the used market.