Delays to new van deliveries are helping drive used values to record-breaking levels as fleets
hold on to vehicles longer and demand outstrips supply.
Used van prices will continue to rise for the rest of the year as the sector continues to be affected by material shortages in the new van market.
The average monthly value across all LCVs rose above £9,000 at BCA in January.
BCA has recorded the third highest average monthly value and the second highest sold monthly volume since the onset of the pandemic in March.
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.
Used van prices sold through Aston Barclay rose 4.2% (£255) to £6,204 in Q3 – an increase of 26% compared to Q1.
BCA is reporting that average values for used light commercial vehicles improved at BCA in August as sold volumes continued to rise.
The used van market shows no sign of slowing down, with record prices being predicted for the rest of 2020 and into 2021.
Manheim has recorded another record-breaking LCV sales performance in August, bucking the traditional seasonal slowdown and setting an all-time average selling price record.
Used van prices have reached an all-time high in July as demand for used stock increases among buyers.
Manheim says a lack of wholesale supply is not driving current van demand to record levels, with June’s volume only 12% down year-on-year.
Pent-up demand for used vans reduced stock levels to a point where prices rose by between 30-40% in June, reports Shoreham Vehicle Auctions (SVA).
Average values for used light commercial vehicles (LCVs) rose across the board during January 2020, according to BCA’s LCV Pulse report.
The average end of contract (EOC)charges for vans increased by 12% over the past 12 months, from £376 to £420, according to the latest data from the FN50.
Manheim is celebrating a record-breaking £6 million in HGV sales in 2019, following a programme of investment in its dedicated HGV Hubs.
Average values improved by £227 (3.2%), year-on-year, for light commercial vehicle values at BCA in November, 2019.
Increased volume met strong buyer demand at Manheim in October as 84% of LCVs sold first-time.
Fleet and lease LCVs averaged £7,644 at BCA in August 2019, a fall of £325 (4.1%), month-on-month.
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Manheim recorded an 8% increase in LCV volume year-on-year, with higher numbers of daily rental and fleet and leasing vehicles available at auction.