October saw stability in the light commercial vehicle (LCV) market for the fifth consecutive month with values averaging £9,861 as demand matched a ‘good level’ of supply across BCA’s sales programme.
Average monthly values continue to be well ahead year-on-year, with October 2021 values being ahead of the same month last year by £2,104, equivalent to a 27.1% uplift. In contrast, values have moved by just £259 or 2.6% across the past five months.
Stuart Pearson, chief operating officer at BCA, said: “Similar new vehicle supply issues have impacted both the car and commercial vehicle marketplace in 2021, albeit the acceleration of LCV prices came much earlier in the year.
“However, values have remained stable since the LCV sector saw prices peak in the summer, which potentially highlights what’s to come for cars too.
“The long waiting lists for new commercial vehicles continue and our buyer base has been enhanced by increased activity from the franchised dealer networks who have been particularly competitive when it comes to sourcing used stock.
“With delays in delivery of some new models anticipated to continue well into next year, LCV values in the wholesale used market are expected to remain strong for some months to come.”
Used van values remained stable in September, following a period of rapid growth, earlier in the year.
BCA said it continues to focus on developing the digital buying experience with improvements to the LCV grading process along with technology upgrades and enhancements to its website and the BCA Buyer app.