CommercialFleet

Sustained demand sees used van prices continue to rise, says BCA

Duncan Ward, BCA

Sustained levels of demand from professional buyers and competitive bidding saw average values for fleet and lease vans and nearly-new vans continue to rise.

The headline average value also rose to a 2015 high in October, improving by £47 to £5,654, equivalent to a 0.8% uplift compared to September.

Year-on-year values were flat at exactly the same figure as October 2014, with the average van in 2015 being of similar age, but with a mileage down by nearly 2,000 miles at 77,000.

Duncan Ward, LCV operations director for BCA, said: “October was a strong month for LCV sales at BCA with average values peaking for 2015 - demand was strong across the month, with improving sale conversion rates.“

He added: “With encouraging noises coming from most business sectors, a reasonably settled economy and relative shortage of good quality stock, both professional buyers and end users are bidding confidently across a range of makes, models and configurations.

"There has been plenty of competition for LCVs that are in ready-to-retail condition and values for the best examples will outstrip price guide expectations by a considerable margin.

“As the Christmas season approaches, online retailers will place increasing demands on the parcel delivery and courier sector, and we expect to see plenty of interest for larger panel vans over the next few weeks.

"The budget van sector is also buoyant, with average values for part-exchange stock reaching record levels in October.”

The fleet and lease sector recorded average values of £6,427 in October, a small increase of just £11 over September but enough to reach the highest point since May. 

CAP performance rose by a percentage point to 100.13%, although retained value against MRP (manufacturer recommended price) fell slightly to 33.43%.

Year-on-year, values were down by £100 (1.5%), with performance against MRP down by more than three percentage points.

 

Year-on-year table: Fleet & lease vans

Fleet/Lease

Avg Age (mnths)

Avg Mileage

Avg Value

Sale vs CAP

Sale vs MRP

Oct 2014

41.47

71,575

£6,527

102.06%

36.99%

Oct 2015

42.78

71,629

£6,427

100.13%

33.43%

 


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