Average light commercial vehicle (LCV) values remained strong at BCA as professional buyers competed both in-lane and online during October.
The headline value of £7,324 was well ahead year-on-year, underlining the long-term trend for significant and sustained value growth across the LCV sector. Values were up by £560, equivalent to an 8.4% increase over the same period in 2017, despite mileage rising.
Month-on-month, average age and mileage rose, reflecting a shift in overall model mix as a higher percentage of dealer part-exchange vans sold during October.
Stuart Pearson, chief operating officer for UK remarketing at BCA, said: “As we have reported consistently throughout this year, the LCV market at BCA has seen continued growth, with values currently over 8% ahead of where they were last year.
“Online sales volumes continue to grow, with many vendor sections now selling 50% of stock to BCA Live Online bidders.
“Demand remains strong across the range of product on offer at BCA, with both corporate and dealer vendors enjoying excellent conversion rates. Vendors should be aware that buyers are getting more selective on base specification and duplicated stock and condition remains critical across the board.”
He continued: “The approaching Christmas period is driving interest in larger delivery vehicles supporting the online shopping sector, and there is continuing demand for LCVs to service the construction and civil engineering industries and the small business and entrepreneurial start-up sector.”
Fleet and lease LCV values remained strong at £8,324 in October, the fourth highest value on record in the sector with age and mileage rising over the month. Values were ahead of the same period last year by £540 (6.9%) with retained value against MRP (Manufacturer Recommended Price) falling by just half a percentage point to 40.47%.
Average part-exchange LCV values were steady at £4,621, the second highest value recorded in this sector. Year-on-year values increased by £206 (4.6%), despite both comparative age and mileage rising, the latter by nearly 7,000 miles.
Nearly-new LCV values rose in October to £16,236, the third highest monthly value recorded this year. Year-on-year values at BCA were ahead by £609, equivalent to a 3.8% uplift compared to October 2017. As always, these values have to be taken in the context of the volumes reaching the market, the model mix factor and availability of stock.