13 May 2015 - BCA Commercial Pulse: Used LCV values fall in April
Average values for light commercial vehicles fell in April to £5,508, a fall of £108 (1.9%) compared to March. Fleet & lease values fell, while part-exchange values improved marginally.
Year-on-year table: All vans
Year-on-year, average values were up by £113 (2.0%) compared to March 2014, with performance against CAP virtually static over the year.
BCA’s Head of Commercial Vehicles, Duncan Ward, commented “Although we are reporting some price pressure as a result of rising supply and the typical seasonal issues we experience post-Easter, there is still plenty of demand from professional buyers and end-users. Average values for light commercial vehicles have risen significantly over time.”
“With record numbers of small businesses being set up as the economy recovers there has been steady interest for panel vans of all types and capacities, as well as more specialised vehicles such as Lutons, dropsides and tippers. One of the first assets small businesses, partnerships and sole traders are likely to acquire is a company van and that is being reflected in the wider wholesale market.”
Values for fleet and lease LCVs averaged £6,459 in April – a fall of £150 (2.2%) compared to March. CAP performance fell back by half a point to 100.54% and retained value against Manufacturer Recommended Price fell by a similar amount to 35.6%. Year-on-year, values were down by £276(4.1%).
Year-on-year table: Fleet & lease vans
Part-exchange LCV values improved in April, following four consecutive monthly falls, rising by £33 (0.9%) over the month. CAP average comparisons were down a point at 102.6%, and continue to outperform the fleet & lease sector by some margin. Year-on-year values were just ahead – by £5 – having lagged behind over the previous three months. The average van was five months older and 2,000 miles lower when sold in April 2015, compared to a year ago. CAP performance was up, year-on-year.
Year-on-year table: Part-Ex vans
Nearly-new LCV values averaged £13,436 in April – an increase of £768 compared to March, with CAP comparisons falling slightly to 96.89%. As always, this has to be taken in the context of the very low volumes reaching the market and the model mix factor.