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BCA reports June drop in used LCV values
Date: Friday, August 2, 2019 | Author: Sean Keywood
The average value of used LCVs sold in June was down by 4.1% year-on-year, according to newly released figures from BCA.
The average of £7,157 was also a 3.2% fall compared with May.
BCA has said the yearly fall was partly due to a 6.4% increase in the average mileage of vehicles sold.
Sector by sector, fleet and lease LCVs averaged a value of £7,908, a fall of 3.5% month-on-month and 3.3% year-on-year, with average vehicle age and mileage rising.
The average part-exchange LCV value was £4,405, the lowest recorded since last August, meaning a fall of £303 month-on-month and £140 year-on-year, with age stable and mileage down by around 1,000 miles.
Nearly new LCVs averaged £14,286 in June, a fall of more than £1,000 month-on-month and more than £2,000 year-on-year, although BCA warns that, as always, these values have to be taken in the context of the volumes reaching the market, the model mix factor and availability of stock.
BCA COO for UK remarketing Stuart Pearson said: “BCA saw some price pressure across all sectors in June, which although not unusual for the time of year is also heavily affected by the mix of product of offer.
“Retail sales of LCVs often slow in the period between the May bank holidays and the start of the summer vacation period and that naturally transfers to activity in the wholesale sector.
“Typically, when demand softens we see the onset of a two-tier market, where the best-prepared and -presented retail-ready LCVs continue to attract competitive bidding, while vehicles offered with damage or that are poorly prepared need to be sensibly valued to sell first time.”
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