LCV values continue strong start to 2023

LCV values averaged £9,851 at BCA in February 2023, with sustained buyer demand keeping values firm as the strong start to the year continued.

Sold volumes improved compared to January with values slightly down on last month at £9,851, while performance against price guides improved sharply to 105.7%, a rise of three per cent month on month.

Stuart Pearson, BCA COO UK said: “Following a good start for the used LCV sector in January, we have experienced more of the same in February with robust price performance and rising volumes of vehicles sold. Also, with the economic landscape starting to look a little brighter and improved confidence levels amongst small businesses, we expect used LCV values to remain fairly resilient for some time.

“While there has been an improving picture in the new LCV sector for a number of months, it will be some time before we see any significant volume of younger vans reaching the used market. We’re also entering the third anniversary period of the first COVID lockdown when there was minimal activity in the light commercial sector for a few months, and that means a potential dearth of three-year-old stock until the summer. Taking all these factors into account, it is likely the marketplace for LCVs will remain competitive for some months to come.”