The average value of used vans sold at auction reached a record high for the third consecutive month in October thanks to improved confidence among small businesses, according to the monthly BCA Pulse report.
Used LCVs sold for £6,368 on average last month, £238 up on September’s figure, and £724 more than October 2015’s price thanks to strong sales around the country.
Ex-fleet and lease van values hit a record high, as prices increased by £306 to £7.190 in October, while year-on-year values were ahead by £763, with both the average age (down by two months) and mileage (9,000 less) declining compared with the same period in 2015.
Part-exchange LCV values also improved during the month, up by £49 to £4,046, and were the highest recorded since the start of 2016. Year-on-year values were also ahead, up by £120.
Nearly-new van values, meanwhile, grew by £506 when compared with September, and also marked the highest monthly value experienced this year, to £14,888, while the year-on-year value was up by £274.
“Both professional buyers and end users are bidding confidently across a range of makes, models and configurations with lots of competition for LCVs that are in ready-to-retail condition. Values for the best examples will outstrip price guide expectations by a considerable margin,” said BCA’s head of commercial vehicles, Duncan Ward.
"As the Christmas season approaches, online retailers will place increasing demands on the parcel delivery and courier sector, and we expect to see continued interest for larger panel vans over the next few weeks. The budget van sector is also buoyant, with average values for part-exchange stock rising to the second highest point on record in October,” he added.