The headline average value of a used LCV sold at BCA climbed in December, as average values improved for the fourth consecutive month, according to the company’s latest Pulse report. However, the rise in value reflected an increase in cherry-picking by professional buyers in a market short of stock in the run up to Christmas.
Values for LCVs sold at BCA averaged £5,810 in December; the highest point this year and the second highest value on record. Year-on-year values were down by £60, while performance against CAP was down by two percentage points compared to 2014, with the average van in 2015 being around one month younger and 1,000 miles lower.
Year-on-year table: All vans
BCA’s LCV Operations Director, Duncan Ward, commented “December is a short trading month and many corporate vendors hold vehicles back for the New Year, making stock scarce and focusing buyer demand. As a result, values for the best presented vans typically outstripped price guide expectations and there was plenty of interest for any vehicles with a retail type specification, an unusual configuration or special equipment. In contrast, there was less interest from buyers for bread and butter stock, and any vehicle in poor condition struggled to get the buyers attention.”
The fleet and lease sector recorded average values of £6,501 in December, a fall of £50 compared to November. CAP performance fell back slightly to 98.75%, while retained value against MRP (Manufacturer Recommended Price) fell by nearly half a percentage point to 33.54%. Year-on-year, values were down by £358 (5.2%), with performance against MRP down by nearly three and a half percentage points.
Year-on-year table: Fleet & lease vans
Average part-exchange LCV values were almost static in December, falling by just £7 to £4,025 – the second highest monthly value ever recorded for part-exchange vans at BCA, while year-on-year values were ahead by £178 (4.6%). CAP average comparisons fell slightly to 101.22% in December, although CAP performance has declined substantially over the year and is down by four percentage points. Notably average mileage remains substantially lower in 2015, while average age has fallen by around 3 months.
Year-on-year table: Part-Ex vans
Nearly-new LCV values averaged £15,042 in December – a decrease of £186 (1.2%) compared to November – but still one of the highest values on record for nearly-new stock in the Pulse report, despite performance against CAP declining by over two points. As always, this has to be taken in the context of the very low volumes reaching the market and the model mix factor, as well as the continuing availability of ‘new shape’ models reaching the used market.
13 month rolling trend: