Used van auction prices remain high despite three per cent drop in October

Time 7:15 am, December 2, 2020

Average prices for used vans remained strong at the online block in October, according to the latest figures from BCA.

Although prices fell by three per cent, the month saw the third highest values since the pandemic hit in March and was only bested by the bumper months of June and September.

BCA added that values for LCVs are continuing to exceed guide prices by around 10 percentage points.

In October, the average sale price recorded was £7,757. This is a drop of £237 (three per cent) from September when the second highest value since the first lockdown was recorded.

This demand has stayed strong, and the auction house also reported an average conversion rate of more than 80 per cent across its auctions in October.

BCA COO UK for remarketing Stuart Pearson said: ‘October is typically the time of year when we start to see a shift in demand, and there was a feeling throughout the month that trading was moving towards a more seasonal pattern.

‘In the weeks running up to Christmas, we would expect to see an uptick in demand for LCVs to meet the needs of the home delivery sector.

‘However, LCVs have been in high demand throughout the majority of the year due to the significant shift towards online retailing and that demand has continued unabated into the autumn months.’

Rebecca Chaplin's avatar

Rebecca has been a motoring and business journalist since 2014, previously writing and presenting for titles such as the Press Association, Auto Express and Car Buyer. She has worked in many roles for Car Dealer Magazine’s publisher Blackball Media including head of editorial.

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