Average LCV values hit new high
17 May 2016
The average value of used LCVs sold at BCA auctions reached record levels last month, thanks to strong demand and competitive bidding. Meanwhile, values for fleet and lease vehicles jumped for the fourth month in a row.
As a result, the average LCV sale price stood at £5966 in April - a 1.4% rise equivalent to £87 compared with March - hitting the highest level since BCA began reporting monthly figures in 2005. Year-on-year values, on the other hand, rose by £458 (8.3%), which is partly thanks to the average mileage tumbling by 3400 miles to 73,758 miles and vehicles being four months younger on average at 54.1 months.
"Buyers were out in force in April with both physical and online bidders competing strongly for the stock on offer", stated Duncan Ward, BCA LCV operations director. "Values are well ahead of where they were a year ago, underlining the evolution in price performance which has been driven by high levels of demand".
Meanwhile, values for fleet and lease vehicles rose by £92 (1.4%) to £6818 in April compared with the previous month - the highest monthly value recorded since 2014. "Average values continue to rise for fleet/lease commercials, with both professional buyers and end users focusing on one owner vehicles up to five years old", added Ward.
"Both age and mileage for corporate vans continues to drop and this is contributing to the steady price evolution seen over the past year." Presentation and condition continue to be "exceptionally important", the BCA LCV boss asserted, particularly in light of the increasing volumes of similar models hitting the market.