The average price of used LCVs went up for the fifth month running at BCA in March 2021 – with record levels reached yet again.
BCA said today (May 4) that values had now risen for nine of the 12 months since the pandemic began, showing the ongoing demand from professional buyers.
The average price across all LCVs went up to £9,453, with values outstripping guide prices by what BCA called ‘a significant margin’ and maintaining a trend stretching well back into 2020.
Sale conversion rates for LCVs also improved, rising to nearly 80 per cent, with younger, higher-grade examples generally selling the first time of being offered.
Bidder numbers were said to be at their highest since the pandemic started.
BCA UK chief operating officer Stuart Pearson said: ‘March 2021 saw a significant uptick in demand for light commercials, with sold volumes increasing by more than 26 per cent month on month and buyer numbers rising significantly.
‘There continued to be highly competitive bidding across the BCA online sales programme for long-wheelbase, high-roof panel vans suitable for hub delivery and courier journeys, alongside sustained demand for medium-wheelbase, medium-roof vans typically used for final-mile, home-delivery work.’
He added: ‘Bidding on LCVs at BCA has consistently outperformed guide price expectations over recent months and March was no exception, with values averaging over 106 per cent of guide across the board.
‘BCA’s Decision Intelligence team are keeping abreast of the current evolving picture in the wholesale LCV sector and providing sellers with real-time data to inform remarketing decisions.
‘We expect to see this high level of demand maintained as the UK economy slowly reopens, and we will continue to offer the widest selection of LCVs to meet the needs of our professional buyers in our daily online sales programme.’