Van prices stall in May
11 June 2010
Van prices stalled in May
Average monthly values for LCVs slipped back in May ending a run of six consecutive record months.
Despite a drop in values, they still remain notably ahead, year-on-year.
Used LCVs averaged £4466 in May after reaching a record level of £4693 in April. The fall of £227 was equivalent to a 4.8% decrease and all three sectors (fleet, nearly-new and part exchange) posted lower values compared to April.
But BCA said the market remains well ahead of recorded values in 2009 with average monthly values in 2010 hovering around the £4500 mark, after prices broke the £4000 barrier in December last year.
Year-on-year comparisons show that May 2010 values are £871 (24%) ahead of the same month in 2009.
Duncan Ward, BCA general manager commercial vehicles, said: "There has been a subtle slowing of demand in the used LCV market over recent weeks. Following month after month of rising values, his may come as a surprise to market watchers, but we are now entering a period of the year where prices have tended to slow.
"Despite what we saw last year, values cannot keep rising inexorably - common sense suggest eventually the market will revert to type and we will start to see the peaks and troughs of a typical annual cycle."
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