CommercialFleet

Average used LCV values rise 0.6%, latest NAMA figures show

BCA auction

The average value of used LCVs at auction increased 0.6% (£27) to £4.599 between April and May, latest figures from the National Association of Motor Auctions (NAMA) show.

Volumes saw a 4.1% decrease, and the average age of LCVs sold at auction fell from 70.6 to 69.3 months.

The average number of days that LCVs remained on site declined to 14.9 days, and the average mileage decreased from 82,175 to 81,761 miles.

At 9,567 units, despite 406 fewer LCVs being sold at auction in May when compared to the previous month, against the same month in 2014 volumes stood 14% higher.

With an uplift of 5.4%, it was only the two- to four-year age band that delivered any growth although this followed the big fall posted by this sector in April.

Paul Hill, chairman of NAMA, said: "Following some patchy performances earlier in 2015, May proved to be a good month for those wholesaling light commercial vehicles.

"Falls in average age, mileage and volume each helped deliver a modest, though welcome increase in average price.

“Perhaps the most encouraging statistic to be seen in this NAMA LCV Report was that at 77.5% (+5.3%) the percentage of LCV lots selling at the first time of being offered was the highest recorded in six months.

“As we move through the remainder of 2015, it is likely that relatively small swings in the balance between supply and demand will be felt more sharply.

"Where volumes fall short of the maximum that the trade can absorb, we can expect to see stable market conditions with prices holding firm.

"However, for any sector and/or age band where even just a few too many LCVs are being de-fleeted, price slippage should be anticipated."

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