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BCA Commercial Pulse: Average LCV values achieve new record in February

Average light commercial vehicle values climbed to a new record high at BCA in February following another strong month of trading in-lane and online. Volumes remained high as the company introduced an enhanced sales programme with additional sales staged nationwide.  Buyer demand remained strong with competitive bidding across the range of stock on offer at BCA. 

Average values rose by £242 (3.5%) during the month to reach £7,069 – the first time on record that average LCV values have risen above £7K.  Digital buyers continued to be active, notably when wintry conditions made travel difficult.  Year-on-year values remain well ahead, up by £520, equivalent to a 7.9% increase over the period.   Average age and mileage were marginally down year-on-year.

Year-on-year table: All vans

BCA’s LCV Operations Director, Duncan Ward, commented “The LCV market has started the year exceptionally strongly and demand from buyers is high.  BCA is meeting that demand with an expanded nationwide LCV sales programme which means buyers are presented with a greater choice of vehicles, whatever their location and whether they buy physically in-lane or digitally via BCA Live Online.”

He continued "Both professional buyers and end users are bidding confidently across a range of makes, models and configurations of panel vans with strong competition for examples that are in ready-to-retail condition.  With the uplift in major construction projects and new build housing nationwide, tippers and dropsides are likely to remain at premium values for some time to come.”

Having fallen in January, fleet and lease LCVs rose in value in February as demand remained high and volumes eased slightly.  Values climbed by £174 (2.3%) to £7,695 in February, with retained value against MRP (Manufacturer Recommended Price) increasing by over half a point to 37.90%.   Year-on-year, values remain well ahead, up by £516 (7.1%), with average age rising slightly and mileage declining when compared to the same period in 2017. 

Year-on-year table: Fleet & lease vans

Average part-exchange LCV values fell in February by £150 (3.2%) to £4,425, although this was the third highest monthly value recorded for part-exchange LCVs.  Year-on-year, values were up by £423 (10.5%) with comparative age declining and mileage rising compared to the same month in 2017.

Year-on-year table: Part-Ex vans

Nearly-new LCV values rose in February to £14,726, with year-on-year values showing a 9.1% uplift.   As always, this has to be taken in the context of the very low volumes reaching the market, seasonal pressures and the model mix factor.