12:12 pm, February 24, 2021
Values of used light commercial vehicles (LCVs) reached record levels for the third month running in January, according to BCA.
The remarketing firm said the average monthly value across all LCVs rose above £9,000 at BCA in January, representing the highest average monthly value since the onset of the pandemic in March 2020.
BCA recorded average used LCV values of £9,164 in January, a substantial increase of £593 (6.9 or cent) on what was a strong performance in December, said the firm.
Average values outstripped guide prices by over six percentage points, highlighting the ongoing demand for LCV stock from professional buyers.
Conversion rates for LCVs also remain high, it said, averaging in excess of 70 per cent across the its online sales during January.
Stuart Pearson, BCA chief operating officer UK, said: ‘The rising values for LCVs and high sale conversion levels we are seeing at BCA underline the wider market demand for light commercial vehicles.
‘The signs suggest that these high levels of demand will continue, particularly from the home delivery, final mile and courier sectors serving consumers who are buying online.’
Pearson added: ‘While there is no sign of overall demand softening currently, we have seen some buyers being a little more selective when it comes to condition.’
