Used LCV values rise again
The headline average value of a used LCV sold at BCA reached record levels in April as strong demand and competitive bidding continued for commercial vehicles across BCA’s network. Fleet and lease values rose for the fourth consecutive month.
Values for LCVs sold at BCA averaged £5,966 in April – a rise of £87 (1.4%) compared to March and the highest monthly headline figure on record since Pulse began reporting in 2005. Year-on-year values were up by £458 (8.3%) with the average van in 2016 being four months younger and with average mileage 3,400 miles lower.
BCA’s LCV operations director, Duncan Ward commented, ‘Average values continue to rise for fleet/lease commercials, with both professional buyers and end users focussing on one owner vehicles up to five years old. Both age and mileage for corporate vans continues to drop and this is contributing to the steady price evolution seen over the past year. The better grade vans are selling strongly and making good money, while vehicles requiring work need to be priced in line with market sentiment to sell first time. Values for dealer part-exchange vans have been relatively static over the past three months while the nearly-new sector – despite being relatively very small – also saw average values rise.’
The fleet and lease sector recorded average values of £6,818 in April, an increase of £92 (1.4%) compared to March and the highest monthly value recorded since 2014. Retained value against MRP (Manufacturer Recommended Price) improved by 1.5% to 35.90%. Year-on-year, values were up by £359 (5.5%), with performance against MRP relatively flat. Notably both age and mileage have dropped over the year.
Average part-exchange LCV values fell back by £47 in April, a fall of 1.2% while nearly-new LCV values averaged £14,603 in April – an increase of £627 (4.5%) compared to March.