Strong used values for all LCV sectors in November

Rockingham LCV sale City Auction Group

Strong demand in the wholesale market supported unseasonably strong used values for all LCV sectors in November, according to Cap HPI.

Values fell by an average of 0.6% at three years and 90,000 miles, compared to the average monthly drop this year of -1.6%.

Experts at the valuation company say data shows the market has been steadily improving since September and is currently showing no signs of letting- up.

Steven Botfield, senior editor for commercial vehicles and motorcycles at Cap HPI, said: “The auction halls remained busy in November with every indication that retail demand remains in good health.

“Buyers reported strong retail demand albeit confined largely to the panel van sectors. Dealers are likely increasing their stock levels, so they don’t miss out on any spikes in demand early in the New Year.”

Medium Vans account for around 29% of all used LCVs sold in the wholesale market and are the largest sector with the largest number of models and derivatives.

November saw a downward price adjustment of just 0.4%, compared to the 2019 monthly average of -0.8%, showing a strong year all round.

Values in the Large Van sector also saw a small downward price movement of just 0.3%, compared to the monthly average in 2019 of -1.9%.

The 4x4 Pick-up Lifestyle sector saw a continued revival with overall prices increasing by 0.3%. However, only the cleanest examples in the most desirable colours with extras such as hard tops or secure load covers are selling with any kind of ease.

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