Used van values hit record highs in January, says BCA Pulse
10 February 2016
Author: Daniel Puddicombe
The average value of used vans sold at auction increased for the fifth consecutive month to a record-breaking high in January, the monthly BCA Pulse report has revealed.
Values for used light commercial vehicles sold at BCA auctions in January averaged £5901 - a rise of £91 (1.5%) compared with December 2015, and the highest value on record.
Year-on-year prices, meanwhile, increased by £441 - 8.0% - despite the average van sold last month, being around 4.5 months older and with 6000 more miles on the clock, than those sold in January 2015.
Ex-fleet and lease vans recorded average prices of £6620, an increase of £119 (0.8%) compared with December 2015, and the highest monthly value recorded since 2014. Year-on-year, values were up by £142 (2.2%).
Part-exchange LCV values, meanwhile, rose a little in January, climbing by £23 - enough to set a new monthly record of £4049. Year-on-year figures are ahead by £373 (10.1%), with the average mileage of the vans lower in 2016, with average ages that have fallen by nearly six months.
However, nearly-new van values fell by £1258 compared with December, to £13,874 in January. BCA claimed this was down to very low volumes hitting the auction halls, as well as increased availability of 'new-shape' vehicles reaching the used markets.
"January saw strong levels demand for LCVs at BCA and a buoyant marketplace as average values climbed," said Duncan Ward, BCA UK's LCV operations director. "The overall sentiment from trade buyers is that retail demand is good and this is keeping the auction halls busy as they compete for stock."
"Over recent months we have seen a better mix of product available for buyers with a wider choice and less duplication of models," he added. "This, combined with a reduction in the overall age and mileage profile, resulted in healthy average selling prices during January."