Average used LCV values soften at BCA
Average used LCV values at BCA fell by 2.3% to £7,934 in July, taking the average price to under £8,000 for the first time since last August.
However, year-on-year values were up and sold volumes improved by more than eight per cent month-on-month.
Across the year so far, average used LCV values have averaged £8,274, which is 103.4% of price guide expectations.
Stuart Pearson, BCA COO UK, said: “BCA saw a further development of a two-tier LCV market in July as entry volumes remained high with a lot of similarly specified vehicles on offer influencing pricing and demand.
“Buyers remain very focussed on paying the right price for stock, with anything in average condition or worse coming under real pressure with the time and cost of refurbishment being closely scrutinised.
“With dealers continuing to report relatively subdued retail demand, as would be expected at this time of year, auction buyers are focusing on those vehicles that represent an opportunity for a swift sale.
“As we head towards the end of the holiday season, there have been some pockets of improvement, however there is plenty of room for the market to lift as we head towards the final quarter, where traditionally activity lifts to support the seasonal count down.”
