Used van values dip in January, says BCA
13 February 2015
Author: Daniel Puddicombe
The average value of a used van sold at auction in January fell by £410 from December 2014's record figure of £5870, according to the latest BCA Pulse report.
Year-on-year, values increased by £138 compared to January 2014, however the average age and mileage also increased marginally.
Values for fleet and lease LCVs fell compared to December. The average price dropped by £381 (5.5%), however the year-on-year values were up slightly on 2014, by £24.
"We saw some price pressure in the used LCV market in January largely as a result of the significant upturn in volumes available to buyers," said Ducan Ward, BCA's head of commercial vehicles. "The sharp rise also resulted in multiples of some makes and models reaching the market which is giving buyers plenty of choice and further compounding price pressures."
"There are also some issues over quality and presentation as vehicles from corporate sources are returning at generally higher ages and mileages than we were seeing a year ago".
Meanwhile, online auction house Autorola claimed used LCV values rocketed by almost 40% (£3220) in 2014.
The remarketing company said the average age of stock fell by two months to 33 months, while the average mileage fell from 23,849 miles to 22,544 miles. It said these factors, as well as strong demand, helped boost the average values.
"Used prices in 2012 and 2013 were strong, rising year-on-year from an average of £8,110 to £8,316, but to then see a dramatic increase of over a third was unprecedented," said Jon Mitchell, Autorola UK sales director.