Used van values remain 'static' in May, says BCA Pulse
09 June 2016
Author: Daniel Puddicombe
The headline average value of used vans sold at auction fell to £5892 in May, a decline of £74 compared to the record figures achieved in April, the latest BCA Pulse report has revealed.
Year-on-year values, however, are up by £334 or 6.0% when compared to May 2015, the auction house said.
Ex-fleet and lease van values fell by £32 (0.4%) to £6786 compared to April, while year-on-year values were up by £339 (5.3%) with the average mileage dropping by 8355 miles.
Part-exchange values, meanwhile, fell by £47 in May, while year-on-year values were static.
Nearly-new van values averaged £14,337 last month - a fall of £260 when compared with April, which BCA blamed on low volumes reaching the used market.
"May is typically a slower month for the used vehicle sector, with the two Bank Holidays often proving disruptive to trading patterns. However, the LCV market remains generally confident and professional buyers were competing strongly for the stock on offer," said BCA's LCV operations director, Duncan Ward. "Average values in 2016 have stepped up significantly from those recorded last year, as these high levels of demand continue - largely driven by the construction and civil engineering industries, as well as the courier and online delivery sectors."
"With the summer months upon us, the market is now moving into a period when demand and values typically remain relatively flat and this year we still have the distractions of the Euro 2016 football tournament, the EU referendum and the Rio Olympics all to come. History tells us events such as these have notable if short-term effects on the LCV sector and this year will probably be no different," he added.