Light Commercial Vehicle Values Show Slight Increase
According to figures released by BCA, the UK’s largest vehicle auction company, the average value for used commercial vehicles continued to go up in January of 2014, with numbers valued during that period indicating a rise of 11 GBP over the previous month’s value. The continuing increase is an indication of high levels of competition for stock.
January of 2014 marked the sixth consecutive month of values over 5,000 GBP, and the figure of 5,322 GBP represented the highest average value seen since the year 2005. The month over month numbers were encouraging but paled in comparison to the year-over-year numbers, which showed a 13.9% increase of 653 GP over the twelve month period, this despite the fact that the average age of the vehicles has increased.
Duncan Ward, general manager of BCA (British Car Auctions), indicated that the continuing increase in prices is a reflection of the shortage of available vehicles, which is expected to continue. “With stock remaining thin on the ground, buyer demand is focused on the best quality commercial vehicles and this is driving values up. In fact, demand has been right across the board, from older high mileage vans through to younger ex-fleet and lease vehicles, while the few late-plate light commercials on offer can make exceptional values.” Though the numbers released by BCA indicate a drop in the values garnered by fleet and lease operated vehicles, experts believe that this was caused by the difference in available models rather than by demand, which was high.
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