LCV values remain steady
- 22 November 2022
- Posted by: Alan Feldberg
- Category: News
LCV values averaged £9,674 at BCA in October, down just £15 on September’s figure and underlining the good balance between supply and demand.
Performance against guide prices continued to improve, rising above 100% for the first time since February of this year. It is the third consecutive month that BCA has recorded an improvement in this figure. This trend is expected to be maintained with the likelihood of reduced volumes of stock availability in the last few weeks of the year.
Demand for the best presented LCVs remained as strong as it has been all year with overall weekly values being robust, although seasonal issues persist – notably the effect of school half term holidays.
Stuart Pearson, BCA COO UK said: “Despite the worsening economic conditions in recent weeks, demand remains well balanced against supply in the wholesale LCV market and average values reflect this. Much of this demand has been generated by the relative shortage of stock at every price point, most notably of nearly-new and retail ready vehicles which have been in short supply all year.
“There is also some seasonality at play with anything that can support increased activity in the home delivery being strongly contested, along with a additional interest in any vehicle that becomes more desirable when the weather changes.”