10:51 am, April 1, 2021
Prices for used LCVs reached record levels for the fourth month running at BCA thanks to continuning strong demand, said the remarketer.
The average monthly value for all LCVs increased to £9,426 in February, which BCA said was the highest average monthly value on record.
They rose by £262 (2.9 per cent) month on month, outstripping guide prices by six percentage points.
Conversion rates stayed high as well, with vehicles up to six years old and grade three or above typically selling the first time of being offered for sale.
BCA said buyers were willing to pay a premium for vehicles that didn’t need bodywork or repairs before being set to work.
Stuart Pearson, BCA’s UK chief operating officer, said: ‘The effect of the pandemic and the huge uplift in online shopping and home delivery market over the past year has created a significant increase in demand for panel vans suitable for courier and final-mile delivery work.
Source: BCA Valuations
‘This has resulted in rising values for every model of long-wheelbase, high-roof-panel vans, with Sprinter, Crafter and Transit models very much in demand.’
He added that medium-wheelbase, medium-roof vans had consistently outperformed guide price expectations over recent months.
‘Even the older, higher-mileage end of the market has been buoyant, with old-shape Transits – which ceased production eight years ago – being exceptionally sought after.
‘Any vehicle in a good retail colour and specification generates a huge amount of interest with buyers, with metallic colours typically creating a flurry of bidding when they are offered for sale.’
And Pearson said that BCA expected to see demand go even higher as the UK economy reopens over the coming weeks.
Pictured for illustrative purposes is a Volkswagen Crafter
