BCA Commercial Pulse: Values climb in September
Average light commercial vehicle values climbed to a record level in September, with both corporate and dealer sellers seeing values rise. The month was typified by strong attendances and confident bidding across BCA’s network of LCV centres, both in-lane and online.
The headline value improved by £231 (5.1%) to £6,651, with average values also improving to record levels for fleet & lease and dealer P/X values – the latter climbing sharply for the second month running. Sold volumes of LCVs continued to rise across the board at BCA.
Year-on-year values remain well ahead, up by £511, equivalent to an 8.3% increase over the period. Average age and mileage continued to decline, reflecting the growing share of corporate stock sold as well as the higher volumes of younger rental stock seen over recent months.
Year-on-year table: All vans
BCA’s LCV Operations Director, Duncan Ward commented “BCA offered increased volumes of stock during September and attracted a lot of new buyers as a result. Demand was strong across the board, with corporate vendors enjoying excellent conversion rates and average values rising to a new record high. Dealer PX values climbed sharply for the second month running, also reaching record levels during the month.”
He added “The LCV market has seen continued value and volume growth throughout much of 2017. There has been steady demand for vehicles to service online shopping delivery, the construction and civil engineering industries and the small business and entrepreneurial start-up sector. BCA continues to experience plenty of demand for tippers and dropsides, Lutons and larger panel vans, the latter often going back to work to service the online shopping sector.”
The fleet and lease LCV sector saw average values improve by £439 (6.2%) over the month, establishing a new record value of £7,491. Retained value against MRP (Manufacturer Recommended Price) improved by a point and a half to 37.89%. Year-on-year, values are significantly ahead, up by £607 (8.8%), with average age and mileage declining when compared to the same period in 2016.
Year-on-year table: Fleet & lease vans
Average part-exchange LCV values improved sharply for the second month running, rising by £133 (3.1%) to £4,359 – the highest point on record for the sector. Values have improved by 8.6% in just two months. Year-on-year, values were up by £362 (9.0%) although comparative age is down by nearly six months and average mileage has fallen by nearly 12,000 miles and this will have impacted average values.
Year-on-year table: Part-Ex vans
Having risen sharply in July, nearly-new LCV values fell in August by £632 (4.1%) to £14,512. 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: