LCV values find their level
- 20 September 2022
- Posted by: Alan Feldberg
- Category: News
BCA has announced that LCV values averaged £9,864 in August, down from the figure of £10,220 reported in July but still ahead of May and June.
Performance against guide prices improved to 97.5%, with just a £10 differential between August 2021 and August 2022.
Stuart Pearson, BCA COO UK, said: “The overall picture in the LCV market suggests a settling into more familiar trading patterns as the constraints imposed by the pandemic have receded. Admittedly many economic pressures remain on those small businesses that typically purchase used LCVs at retail, but this is balanced by a shortage of the best-quality, forecourt-ready stock in the wholesale sector.
“It’s becoming a familiar refrain, but the basics are critical in the current market, so vendors should work closely with their remarketing partner to ensure that their LCVs are realistically valued, properly prepared and graded, and accurately catalogued to attract the right buyers.”
“Meanwhile, the new LCV market continues to face substantial challenges, with new sales falling by nearly 25% in August as the sector faces ongoing supply chain issues and long delivery times. The wholesale used sector remains the best source of stock for professional buyers and this is likely to continue for the foreseeable future.”