Used LCV values remain high
The headline average value of a used LCV sold at BCA in February fell by just under one percentage point from the record level achieved in January.
Values for LCVs sold at BCA averaged £5,848 in February – a fall of £53 (0.9%) compared to January’s record figure of £5,901. Year-on-year values, however, were up by a substantial £316 – equivalent to 5.7% – with the average van in 2016 being around five months younger and nearly 1,450 miles less travelled.
BCA’s LCV operations director, Duncan Ward commented, ‘Demand continued in February with trade buyers competing strongly for the best-presented LCVs. We saw LCV sale records broken around the network, notably at Blackbushe. Confidence remains relatively high, but as indicated last month, a two tier market is developing with the most attractive, retail quality vans often outperforming the market by some margin, while higher mileage or damaged examples are less desirable.’
The fleet and lease sector recorded average values of £6,625 in February, an increase of just £5 compared to January and the highest monthly value recorded since 2014. Retained value against MRP (manufacturer recommended price) fell marginally to 34.44%. Year-on-year, values were up by £92 (1.4%), although performance against MRP was down by 1.5%.
Average part-exchange LCV values fell from the record levels seen in January, declining by £199 to £3,850. However, year-on-year values were ahead by £328, equivalent to a 9.3% uplift. Average mileage was broadly static over the year, while average age has fallen by over six months.