The headline average value of a used LCV sold at BCA rose above £6,000 for the first time on record in August, following a strong month for sales.
The average van sold at BCA in August realised £6,089, a rise of £158 (2.6%) compared to July and up by £582 (10.5%), year-on-year.
Fleet & lease values improved marginally, while dealer PX values increased sharply and the low-volume nearly-new van sector also saw values increase over the month.
BCA’s head of commercial vehicles, Duncan Ward, said: “The LCV market in August was particularly strong at BCA considering the holiday season was still in full swing. Conversion rates improved and demand was significantly stronger than we had seen in July.”
He added: “To put it into context, a year ago the headline average value was falling and fleet & lease vans recorded their lowest monthly value since July 2013. Since then average values have steadily improved, climbing across the board by around 10.5%. However, there is no room for complacency as volumes have risen steadily in the wholesale markets and questions remain over poor condition stock.”
Ward continued: “The mantra of ‘condition, condition, condition’ remains as important as it ever was, as buyers continue to focus on well presented, good quality commercial vehicles that can be ready for retail almost immediately. It is vital for sellers to prepare their vehicles well and appraise and value them in line with market sentiment as poorer presented vans must look good value for money if they are to compete.”
The fleet and lease sector saw average values rise by just £1 in August as values continue to stabilise in 2016. Retained value against MRP (Manufacturer Recommended Price) fell by just over half a percentage point to 34.49%.
Year-on-year, values were up by £592 (9.5%), with both average age and mileage declining over the past 12 months.
Avg Age (mnths)
Sale vs MRP