Record Levels Seen in LCV Values
Though summer is traditionally a slower time for van sales and there has been anecdotal evidence that retail van sales have been quiet, the market for fleet, lease and nearly new LCVs continues to rise, with values increasing as inventory remains low. According to BCA’s latest Pulse report, the month of August saw record numbers as professional buyers pushed to find more good retail-quality vans. The average price paid in August was £5,658 in August, a number that represents an increase of 2.9% over July, as well as the highest number ever recorded. Year over year sales were ahead by 12.8%, and reflected a drop in both age and mileage of the available vehicles.
According to Duncan Ward, BCA’s commercial vehicle general manager, “Average values have been climbing over the summer holiday period, despite anecdotal reports suggesting that van retailers have been relatively quiet. However, the key factor driving the market is supply of good retail quality stock – or rather the lack of it – and this means there is plenty of competition for the best examples reaching the market. Demand has been strong for well-presented corporate stock during August, while the few late-plate light commercials on offer can make exceptional values. As always, good condition is the key and vans with a nice specification and in an attractive retail colour are very desirable.”
The retained value against Manufacturer Recommended Pricing improved by over a point to 36.88%, while CAP performance improved to 102.99%.
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