Average LCV values continue to rise
Average LCV values are continuing to climb to record levels in April, according to the BCA's Commercial Pulse report. It is the third month running that values have been at record levels at BCA, as competitive bidding continues across the range of stock on offer nationwide.
During the month of April, average LCV values rose by £108 to reach £7,572, representing a 1.4% uplift. Year-on-year, values are up by a significant £1,141 (17.7%), one of the biggest percentage uplifts ever recorded by the Pulse report. Both mileage and age continued to fall compared to a year ago.
As in previous months, much of the uplift was driven by the corporate sector, where values rose by £195 to record levels as buyers competed both in-lane and online. The 2018 Easter break had minimal impact on trading levels and post-Easter values rose, where they have typically fallen in previous years.
BCA COO UK Remarketing Stuart Pearson commented, “Demand for good quality LCV stock is currently outstripping supply across the BCA network, particularly for vehicles in ready-to-retail condition, where there is intense competition amongst buyers whether they buy physically in-lane or digitally via BCA Live Online.”
He continued: “Unsurprisingly, the corporate sector continues to enjoy high levels of demand as professional buyers compete strongly for one-owner vans to meet the needs of their retail customers and BCA’s expanded nationwide LCV sales programme is presenting buyers with a greater choice of vehicles.”
Fleet and lease LCV values continued to rise and reached record levels for the second month running. Values improved by £195 (2.3%) to reach £8,486. Retained value against MRP (Manufacturer Recommended Price) also increased, rising by one point to 40.45%.
Compared to April 2017, the year-on-year value differential of £1,395 (19.6%) for fleet & lease vans is one of the largest on record. Average age fell by one month while mileage declined by over 5,000 miles when compared to last year and this will have contributed to the significant price evolution in the past year.
Average part-exchange LCV values fell back by £30 (0.7%) in April 2018 to £4,428, although values in this sector have been relatively stable for much of this year. Values were up by £369 (9.0%) compared to April 2017, with comparative age and mileage rising over the period.
Nearly-new LCV values rose in April to £16,148, the third consecutive monthly rise.