11 April 2016 - BCA Commercial Pulse: Values rise in March - British Car Auctions
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11 April 2016 - BCA Commercial Pulse: Values rise in March

The headline average value of a used LCV sold at BCA in March rose to near record levels on the back of strong demand and competitive bidding across BCA’s network.Values for LCVs sold at BCA averaged £5,879 in March – a modest rise of £31 (0.5%) compared to February – but the second highest monthly figure on record. Year-on-year values, however, were up by £263 – equivalent to 4.6% - with the average van in 2016 being nearly three months younger and with a 2,400 lower mileage. 

BCA’s LCV Operations Director, Duncan Ward commented “Even with the disrupting effect of the Easter break, demand for light vans remained strong in March with trade buyers competing strongly for the best-presented stock. Values remain exceptionally strong and well ahead of where they were a year ago, despite the poor condition of some vehicles reaching the used sector.”

“As volumes increase, we are advising sellers to pay attention to the basics of remarketing. Presentation andpreparation are a given, and it is vital to properly identify and declare the specification, particularly wherethis can create additional interest with buyers. Providing the service history at the point of sale is alsoimportant and can have a real, tangible effect on the potential prices vehicles might achieve.”The fleet and lease sector recorded average values of £6,726 in March, an increase of £101 (1.5%) comparedto February and the highest monthly value recorded since 2014. Retained value against MRP (ManufacturerRecommended Price) improved to 34.44%. Year-on-year, values were up by £117 (1.7%), although performance against MRP was down slightly.

Average part-exchange LCV values improved to £3,987 in March, a rise of £47 (1.2%) compared to February.Year-on-year values remain well ahead, up by £397, equivalent to an 11.3% uplift. Average mileage wasbroadly static over the year, while average age has fallen by nearly four months.

Nearly-new LCV values averaged £13,976 in March – an increase of £1,284 (10.2%) compared to February.As always, this has to be taken in the context of the very low volumes reaching the market and the modelmix factor, as well as the continuing availability of ‘new shape’ models reaching the used market.