7:53 am, August 23, 2021
LCV prices passed £10,000 for the first time at BCA in July amid strong competition for stock, according to latest figures.
The average price for a used LCV rose by £187 to reach £10,120 – the highest recorded average monthly value on record at the auctioneer.
BCA said ‘incredible demand’ for light commercial vehicles had seen values go up by £2,422 over the past year – a 32 per cent rise.
It added that more than 2,000 individual professional buyers competed for LCV stock during July.
BCA UK chief operating officer Stuart Pearson said: ‘The used LCV sector is experiencing a perfect storm, with the home delivery, courier, self-employed trades and also the leisure vehicle sector experiencing high demand for vehicles.
‘The onset of the pandemic stimulated significant growth in online shopping and, as a result, the number of people working as self-employed delivery, courier and final-mile drivers has risen dramatically.
‘Many need their own vehicle – typically an LWB, high-roof large-volume van – and we have seen values rise steadily in this sector.
Source: BCA Valuations
‘We have also seen significant demand for LCVs that support many small businesses and tradespeople, resulting in rising values for standard panel vans, tippers and dropsides.’
He added: ‘One of the most interesting developments has been the increase in demand for vans suitable for conversion to motorhomes to service the staycation market.
‘BCA stages twice-monthly caravan and motorhome online sales and demand has been exceptional this year and continues to increase.
‘While there is a view that value performance for LCVs couldn’t get much better, there is a real chance we will see a further spike in demand towards the end of the year to meet the needs of the Christmas trading period – particularly as the well-documented supply challenges around new vehicles continues to have an impact on the wider marketplace.
‘Our LCV sales continue to be exclusively online, providing our customers with the most efficient access to the widest choice of stock in the wholesale market daily via the BCA Buyer app and BCA Online.’
