External economic factors are affecting the used LCV market despite rising sale volumes, according to BCA.
The auction company’s newly-published LCV sales figures for March show an average sale value of £10,133, the third highest ever recorded, and a £680 (7.2%) year-on-year increase.
However, values were down by £329 compared with February.
BCA UK COO Stuart Pearson said: “External economic factors continue to impact the wider used LCV marketplace, and trading conditions have toughened somewhat in recent weeks. With sale entry rising, the market has been presented with a greater choice of stock and we are seeing much more selectivity from our buyers.
“Underlining this, price guide performance has fallen notably in recent weeks as the market dynamics change. BCA Valuations shows that LCVs averaged 96.5% of guide prices in March 2022, compared to 101.2% the previous month and 106.5% a year ago in March 2021.”
“Demand remains buoyant for LCVs in a good retail colour and specification, but as standard models begin to appear in greater volumes they need to be valued in line with market sentiment to attract the buyers. Similarly, those vehicles offered for sale with cosmetic or mechanical issues are becoming much more price sensitive and BCA has been working closely with vendors to recommend where economical refurbishment and SMART repairs can increase desirability for stock.”
