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Used LCV prices fall despite strong demand as stock levels rise
Date: Wednesday, August 12, 2020 | Author: Sean Keywood
The average price of used LCVs fell by £398 in July, according to auction firm BCA.
It says the average sale price was £7,698, compared with £8,096 in June.
Despite the price fall, attributed to a significant increase in stock levels, BCA says the market remains exceptionally strong, with sold values well in excess of guide prices and sale conversions at unprecedented levels, averaging over 95% in most sales.
Average daily sale volumes increased from around 250 vehicles in June to more than 500 in July.
BCA COO for UK remarketing Stuart Pearson said: “Professional buyer interest has been strong since the lockdown period started and has really accelerated in recent weeks.
“There is significant demand across the board with particular strength in late year, low mileage vehicles which have been in very short supply.
“Conversions, average selling price and performance against guide values at BCA all remain at high levels, with sold volumes rising and the number of buyers participating increasing significantly.
“Demand from the burgeoning home delivery and courier sectors has driven demand in recent weeks and our dealer customers have anecdotally reported record levels of retail sales for used LCVs during June and July.”
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