DEMAND: LCVs are booming
Increased demand from economy-confident businesses is the key reason behind record ex-fleet LCV values being reached, British Car Auctions (BCA) have claimed.
BCA believe quality vans coming into the market for the first time from big corporate fleets is a significant factor in particular.
Values for vans from fleet and leasing companies improved by £110 (1.7%) in October compared to September to £6,518.
The growth was the third consecutive month a record value has been achieved and the seventh record value seen in 2013.
Duncan Ward, General Manager for Commercial Vehicles at BCA, said: “Professional buyers – the retail dealers who want vehicles for their forecourts – are competing strongly for a relatively limited supply of vehicles.
“Commercial vehicles entered for sale by company fleets and corporate operators are highly prized because they often come with a comprehensive service history and just one owner’s name in the log book.
“Professional buyers who typically buy corporate vans at auction are finding they have to bid harder and higher to secure the same stock and this trend is set to continue over the coming months.”