Strong showing for used LCV market in September

Date: Friday, October 13, 2017   |   Author: James Dallas

The used van market performed strongly in September with average values growing by 5.1% (£231) month-on-month to a new high of £6,651, according to the BCA Commercial Pulse.

This figure equated to a rise of 8.3% (£511) compared to September 2016. Average age of LCVs sold at BCA’s auctions in lane and online fell by more than two months year-on-year while average mileage was down by 6,600 miles.

BCA’s operations director Duncan Ward said: “BCA offered increased volumes of stock during September and attracted a lot of new buyers as a result.

“Demand was strong across the board, with corporate vendors enjoying excellent conversion rates and average values rising to a new record high.”

The fleet and lease sector saw values climb by 6.2% compared to August to £7,491, which represented an 8.8% rise year-on-year while average part-exchange values increased 3.1% month-on-month to £4,359 – resulting in a 9.0% jump year-on-year,

although a six month drop in age to just under 78 months coupled with a 12,000 mile decrease in average mileage to 79,703 had an impact on part-ex values.

Having fallen in August values in the low-volume nearly-new segment rose marginally to £14,636.

Ward said the used market had seen consistent growth in value and volumes throughout the year, fed by steady demand for LCVs to service online shopping deliveries, the construction and civil engineering industries and the small business start-up sector.

“BCA continues to experience plenty of demand for tippers and dropsides, Lutons and larger panel vans – the latter often going back to work to service the online shopping sector,” he said.

 

 



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