Average light commercial vehicle values remained steady during June, with the headline value rising by just £7 over the month, although both fleet and lease and dealer P/X values fell.
Nearly-new values improved after falling back last month, although model mix is crucial in this low volume sector.
Year-on-year values remain well ahead, up by £551, equivalent to a 9.3% increase over the period. Average age and mileage continued to decline, reflecting the growing share of corporate stock sold as well as the higher volumes of younger rental stock seen over recent months.
BCA’s LCV operations director Duncan Ward said: “History shows us that the commercial vehicle market typically slows over the summer months and we would expect to see pressure continuing on average values between now and the new registration plate in September.
“While average selling price appears resilient, this is largely due to the influence of a younger, lower mileage profile of vehicles currently reaching the market and the growing volume of corporate stock handled by BCA.
“The model mix continues to change as rental volumes ease, and 4x4 double cab volumes continue to rise. The latter sector continues to experience price pressure and this can make guide values look overly optimistic.
“Condition and specification remain as important as ever and sellers should be aware that it is vital to appraise and value vehicles accurately to reflect current market sentiment.”
The fleet and lease LCV sector saw average values remain static, with a negligible £5 average decline in value from May. Retained value against MRP (Manufacturer Recommended Price) improved marginally to 36.64%. Year-on-year, values were up by £420 (6.2%), with average age and mileage declining when compared to the same period in 2016.
Having improved quite sharply in May, average part-exchange LCV values fell back in June, falling by £83 (2.0%) to £4,062. Year-on-year, values were up by £284 (7.5%) as comparative age and mileage figures fell.
Nearly-new LCV values improved by £448 (3.4%) in June, although as always, 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 continuing availability of ‘new shape’ models reaching the used market.