Average values for used light commercial vehicles (LCVs) reached an all-time high in January at British Car Auctions (BCA), according to new figures.
The BCA’s LCV Pulse report showed average values for used LCVs sold by BCA during January were £7,636, an increase of £343 (4.7%) over the December 2019 figure and up by £307 (4.2%) year-on-year.
Reflecting a strong trading month, both fleet and lease and dealer part-exchange values rose to new record levels, and nearly-new LCVs saw improved values year-on-year.
In addition, the BCA reported that online activity rose to new record levels in January, suggesting that buyers’ habits are changing.
Fleet and lease LCVs averaged £8,537 at BCA in January 2020, an increase of £199 (2.3%) over December’s figure and the highest monthly value ever recorded for corporate LCV stock at BCA. Year-on-year values were up by £324 (3.9%) with average age and mileage both rising. Sales performance against manufacturer recommended price fell by just one percentage point year-on-year.
Part-exchange LCV values averaged £4,788 at BCA in January 2020, an increase of £222 (4.9%) compared to the previous month and a new record value for dealer-sourced LCVs at BCA. Year-on-year, values improved by £34, with a similar age and mileage recorded.
Nearly-new LCV values averaged £17,357 at BCA in January 2020, down slightly on December’s figure but up by £149, year-on-year. As always, these values have to be taken in the context of the volumes reaching the market, the model mix factor and availability of stock.
BCA COO UK remarketing Stuart Pearson said: “The year got off to a flying start with outstanding engagement across all LCV events with confident bidding from both physical and digital bidders. New records were set both in-lane and online with consistent demand across all product sectors, driving the strong values.”