Average light commercial vehicle values improved by £231 (5.1%) to £6,651 at British Car Auctions. Year-on-year values were up by £511, an 8.3% increase over the period.
Fleet & lease and dealer part exchange values also reach record levels at the remarketing firm during September. Average age and mileage continued to decline, reflecting the growing share of corporate stock sold as well as the higher volumes of younger rental stock seen over recent months.
The fleet and lease LCV sector saw average values improve by £439 (6.2%) over the month, establishing a new record value of £7,491. Year-on-year, values are significantly ahead, up by £607 (8.8%), with average age and mileage declining when compared to the same period in 2016.
BCA’s LCV Operations Director, Duncan Ward commented “BCA offered increased volumes of stock during September and attracted a lot of new buyers as a result. Demand was strong across the board, with corporate vendors enjoying excellent conversion rates and average values rising to a new record high. Dealer PX values climbed sharply for the second month running, also reaching record levels during the month.”
He added “The LCV market has seen continued value and volume growth throughout much of 2017. There has been steady demand for vehicles to service online shopping delivery, the construction and civil engineering industries and the small business and entrepreneurial start-up sector. BCA continues to experience plenty of demand for tippers and dropsides, Lutons and larger panel vans, the latter often going back to work to service the online shopping sector.”
Average part-exchange LCV values were up for the second month running, rising by £133 (3.1%) to £4,359. The value movement in this segment has been significant, up by 8.6% in just two months. Year-on-year, values were up by £362 (9.0%) although comparative age is down by nearly six months and average mileage has fallen by nearly 12,000 miles and this will have impacted average values.
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