Economic News Continues Positive for the Van Market
Two separate reports for the month of September continue to bode well for light commercial vehicle values and sales, as the BCA’s latest Pulse report indicated that average values for light commercial vehicles continue to hang near record highs while in the general market commercial vehicle registrations were up by 10.8%
According to SMMT Chief Executive Mike Hawes, speaking about the increase in van registrations, “With businesses feeling increased economic confidence and downsizing from larger vehicles, the van market has delivered another strong performance. This has also yielded growth in the whole commercial vehicle market, continuing the positivity seen throughout the majority of the year.”
With reference to the used market, professional buyers continued to compete for the limited stock that was available, driving the average van price sold at BCA to £5,560 in September, the third highest monthly average on record. Yean on year values remained ahead by £402, with age falling and mileage remaining the same.
Duncan Ward, the general manager of BCA, echoed Mike Hawes’ sentiments, saying, “There can be little doubt that the improving economic background is giving a boost to the used LCV market, and small and medium-sized enterprises (SMEs) remain positive about future prospects. The shortage of good retail quality stock is helping to keep values firm and competition is high for well-presented vans in good colours.”