Used Van Values Continue to Rise
Echoing the reports of increasing registrations for light commercial vehicles, British Car Auctions (BCA) has released powerful and encouraging figures for the month of December. According to BCA’s head of commercial vehicles, Duncan Ward, average values for light commercial vehicles hit an all-time high at the end of 2014.
“Professional buyers and end users alike competed strongly for the best quality stock on offer, with values for the best presented vans typically outstripping price guide expectations by some margin. For the third month running, year-on-year values across the board were up by around 10 percent as the relative shortage of retail quality LCVs continues,” Ward said. The organization reported that the average van value in December reached £5,870, with the highest demand going to vans that were in popular colours and condition. Panel vans and vehicles suitable for delivery and courier work were the most avidly sought after.
The year-on-year values increased by 10.5 percent, with both age and mileage decreasing. Ward said, “Looking ahead we expect this general pattern to be maintained in 2015 while stock remains in short supply. With the parcel delivery and courier sector growing rapidly as the digital shopping revolution continues, we expect values for panel vans of all types and capacities to remain at a high level. The pre-budget announcement suggested that major infrastructure projects, road network improvement schemes and house building projects remain on the table, and this will be a boost for the civil engineering and construction industries.”
Additionally, BCA reported that fleet and lease LCV values also rose, averaging £6,859 in December. This reflects the second highest monthly value on record, increasing by over 4 percent from November’s record figures.