5:28 am, September 9, 2013
AVERAGE values for light commercial vehicles were up in August, according to BCA’s latest Pulse Report.
BCA says this is due to a strong demand from professional buyers remaining consistent in August and the shortage of good retail quality vans.
The average values for all vans rose above the £5,000 mark for the first time last month and record values were achieved in the fleet, lease and dealer part-exchange sectors.
August recorded the largest ever year-on-year value differential in the fleet and lease sector, up by 28.2 per cent compared to the same month in 2012.
Values in the fleet and lease LCV sector improved by £432 in August to produce a new record value of £6,214. Performance against CAP improved by two points to 102.99 per cent, while retained value against Manufacturer Recommended Price fell back half a point to 36.12 per cent.
Meanwhile, average CAP performance remains notably higher in 2013, reaching 102.8 per cent last month.
BCA’s general manager, commercial vehicles, Duncan Ward, said: ‘Average values have been substantially stronger over the summer holiday period than we might have expected, given that anecdotal reports suggest van retailers have been relatively quiet.
‘However, the key factor driving the market is supply of good retail quality stock – or rather the lack of it – and this means there is plenty of competition for the best examples reaching the market.
‘Demand has been right across the board during August, from older higher mileage vans through to younger ex-fleet and lease vehicles, while the few late-plate light commercials on offer can make exceptional values.’
Ward added: ‘The outlook for September is more of the same, as stock remains in very short supply and, with retail LCV activity expected to pick up during the month, the market is experiencing a double whammy.
‘BCA has already recorded some exceptional results in light commercial sales during the early days of September, so there is every chance that average values could climb yet again this month.’
