BCA Commercial Pulse: values rise in November
Average light commercial vehicle values continued to rise at BCA, with the headline figure reaching a new record level of £6,794 driven by strong values in the fleet & lease sector and record prices paid for dealer part-exchange vehicles.
Buyer demand was sustained throughout the month, with inventory levels remaining high and good levels of supply from most sectors and at every price point. Year-on-year values remain well ahead, up by £418, equivalent to an 6.5% increase over the period. Average age and mileage continued to decline, reflecting the steady supply of corporate stock sold.
Year-on-year table: All vans
BCA’s LCV Operations Director, Duncan Ward commented “November was another strong month for LCV sales at BCA with good levels of demand and strong average values achieved. BCA is offering a broad selection of attractive and desirable stock from a wide range of corporate and dealer sources and this is keeping buyers interested and prices firm.”
He added “Professional buyers are competing strongly for LCVs that are in ready-to-retail condition, particularly any vehicles with a high specification or unusual configuration.”
“Live Online bidding has been very strong and increased competition from online buyers is keeping values high. There is continued demand for vehicles to go straight to work in the parcel delivery and courier sectors to meet the needs of the online retailers.”
The fleet and lease LCV sector saw a slight decline in average values fall month-on-month, with values remaining at near record levels. Values fell by just £57 (0.7%) over the month, with retained value against MRP (Manufacturer Recommended Price) at 38. 13%. Year-on-year, values remain significantly ahead, up by £526 (7.3%), 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 to record levels for the third consecutive month, rising by £93 to £4,508, an increase of 2.1% during November. Values have risen by nearly £500 since July this year. Year-on-year, values were up by £412 (10.0%) although comparative age and mileage are notably lower in 2017 and this will have impacted average values.
Year-on-year table: Part-Ex vans
Nearly-new LCV values stood at £15,045 in November. As always, this has to be taken in the context of the very low volumes reaching the market and the model mix factor.