Values for fleet and lease LCVs averaged £6,527 in October
Values for fleet and lease LCVs averaged £6,527 in October
The average values for LCV’s rose in October as buyers competed for stock on offer due to scarcity of used vans. Year on year value were up by nearly 10% as a result of this shortage of retail quality LCV’s
At £5,654, the average value of a van sold at BCA in October was the second highest on record and just £4 behind the all-time record achieved in August of this year. Part-exchange values increased sharply, nearly-new values also improved while fleet & lease values stalled slightly over the month. Year-on-year values remain well ahead by £503 (9.7%), with age and mileage falling. Performance against CAP was down by just over half a point compared to 2013.
BCA’s General Manager of Commercial Vehicles, Duncan Ward, commented: “Demand remains strong in the used LCV market, a result of the improving economy and relative shortage of good quality stock. There has been plenty of competition for LCVs that are in ready-to-retail condition and values for the best examples will outstrip price guide expectations by a considerable margin.”
Values for fleet and lease LCVs averaged £6,527 in October – down by just £23 on September – with CAP performance averaging 102% and retained value against Manufacturer Recommended Price increasing to just under 37%. Year-on-year, values were up by just £9, with performance against CAP down by half a point on 2013.
Mr Ward continued: “With the demands on the parcel delivery and courier sector growing rapidly as the Christmas season approaches, values for larger panel vans have increased sharply with buyers even paying well over book values for vehicles requiring refurbishment. The budget van sector is also buoyant, with average values for part-exchange stock peaking in October.”
Year-on-year table: Fleet & lease vans
