BCA Commercial Pulse: Used values remain high in December
Average LCV values remained strong at BCA in December as continued demand from professional buyers saw the headline value reach a record level of £6,396. This was despite the shorter trading period and a relative dearth of good quality stock as many vendors held vehicles for the New Year. Average LCV values were up by £586 (10.0%), year-on-year.
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. There was plenty of interest for any vehicles with a retail type specification, an unusual configuration or special equipment and, as always, any vehicle suitable for the delivery or courier markets was sought after. However, any vehicle in poor condition struggled to get the buyers attention unless it was keenly valued.”
“Early signs are the market has returned strongly in January, with good attendance at sales since the turn of the year and plenty of activity from online bidders. Typically January sees an uplift in demand and time will tell if 2017 will follow the pattern seen in previous years.”
The fleet and lease LCV sector saw average values fall back marginally after three consecutive record months. Values averaged £7,174 in December – a fall of £27 but still the third highest on record. Retained value against MRP (Manufacturer Recommended Price) fell slightly to 36.34%. Year-on-year, values were up by a significant £673 (10.3%), with average age falling and mileage declining significantly when compared to the same period in 2015.
Year-on-year table: Fleet & lease vans
Average part-exchange LCV values fell by £101 (2.4%) to reach £3,995 in December. Year-on-year values were down by £31 as comparative age and mileage figures continued to rise.
Year-on-year table: Part-Ex vans
Nearly-new LCV values fell back from the record levels reached in November, averaging £14,683 in December. 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: