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LCV demand on the up

Date: 24 February 2010

Burgeoning demand for used vans has maintained its momentum from last year with average prices paid at retailers or auctions continuing to climb.

According to Glass's Guide to Commercial Vehicle Values demand continues to outstrip supply, a situation likely to be sustained during the first half of this year as late-plate LCVs remain at a premium.

George Alexander, the guide's editor, warns that the only "cloud on this sunny horizon" could be "if, in desperation to secure new sales, manufacturers give the green light for significant discounts".

Alexander said that new van sales "have yet to find a forward gear and are unlikely to improve until after the general election".

Figures from vehicle auctioneers BCA, which show that December eclipsed November in establishing average high used LCV values, support Glass's analysis.

They rose by an average of £106 or 2.7% during December to £4000, which in turn set a new high compared to £3000 in January last year. BCA reported that small businesses have been the "significant buyers" in the market, confirming that the UK is emerging from recession.