CommercialFleet

Demand still strong for used vans, reports BCA

Demand for used vans remained strong in September, with BCA reporting the strongest month on record since lockdown for LCV sales.

Average values climbed yet again, and sold volumes rose significantly to reach record levels, with average values continuing to significantly outstrip guide prices and sale conversion in excess of 90% in most sales.

Average LCV values at BCA rose from £7,709 in August to £7,994 in September, a 3.7% rise and the second highest value recorded since lockdown.

Sold LCV values averaged nearly 113% of guide value expectations with sold volumes increasing by a significant 38.1% during the month.

Stuart Pearson, BCA’s chief operating officer for UK remarketing, explained: “Professional buyer interest remains exceptionally high, with online engagement continuing to rise and the number of unique buyers competing for stock at BCA rising steadily every month.”

The average BCA selling price for LCVs improved by £285 during the month and performance against guide values at BCA continues to be positive.

BCA stages online LCV sales daily with an entry of panel vans, car derived vans, dropsides, tippers, minibuses, crewcabs, Lutons and pickups on offer from vendors including UKCGR Commercials, BCA Outsourced Solutions, Inchcape, ALD Automotive and Black Horse alongside a wide range of other fleet, lease, rental, finance and dealer sellers.  Additional stock is offered through Bid Now/Buy Now sales.

Up to 700 light commercial vehicles are offered daily and BCA has launched a new programme of Saturday sales and Monday and Thursday evening sales.

The booming home delivery market has led to increased demand for retail-ready used vans by dealers.

Online remarketing firm Adesa UK found many retailers are heading online to source stock in order to meet customer demand.

“We are seeing an unprecedented demand for used commercial vehicles and that demand shows no signs of abating,” said Jonathan Holland, managing director of Adesa UK.

“A growing number of dealers, some of whom would normally only source cars, are coming to us to buy retail-ready light commercials for customers requiring vans. This increase in demand has undoubtedly been boosted by the number of start-ups joining the growing home delivery market,” he added.

The firm is seeing higher demand for all vehicle sizes, from car-derived vans up to panel vans, with good condition being a prime consideration among buyers.

Used vans sold through Aston Barclay rose 4.2% (£255) to £6,204 in Q3 – an increase of 26% compared to Q1.

The remarketing company also says that there is no sign of the market cooling down as it enters Q4, as the continued growth of online shopping and home delivery further fuels demand for vehicles.


Virtual Fleet & Mobility Live 2020: The virtual fleet expo

Video: Fleet News editor-in-chief Stephen Briers and events director Chris Lester introduce the 2020 virtual event and give a preview of what it will look like.

The annual event was due to take place at the NEC, Birmingham on October 6-7 but as a result of the ongoing impact of the Covid-19 pandemic, and after consultation with the visitor advisory board, Fleet News has taken the decision to hold an online event in November instead.

Among the exclusive features at the virtual event will be a special EV & Hybrid Showroom which will bring to life the latest electric models with interactive displays that will enable you to get up close to the UK’s best fleet suppliers.

Visitors and exhibitors will be able to communicate through live chat, participate in live Q&As, ‘visit’ branded booths, and find out about industry-leading technology solutions.

The decision to go virtual was made easier by the fact that around 40% of fleets already have, or expect to shortly have, a company travel ban that would prevent them from attending live events this year, while a similar proportion did not anticipate attending live events until sometime in 2021.

 

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