Average used LCV prices approach record levels, BCA reports

Date: Thursday, January 27, 2022 | Author: Sean Keywood

The average price of used LCVs sold at auction in December was the second-highest on record, according to BCA.

It recorded an average sale price of £10,001, historically bettered only by the £10,120 figure recorded last July.

December’s figure was a month-on-month increase of £72, or 0.7%, and a year-on-year increase of £1,430, or 16.7%, with values averaging 99.5% of guide prices.

The continuing high prices seen were attributed by BCA to sustained demand for vehicles driven by online shopping, home deliveries, and the trade sector.

BCA UK COO Stuart Pearson said: “This was a strong result for LCV sales in what has traditionally been one of the quieter trading months of the year. Our buyer customers appreciated the opportunity to purchase vehicles throughout the festive period, replenishing stock and getting prepared for what we all anticipate will be a buoyant market in 2022.

“There was a boom in values in the used LCV sector following the onset of the pandemic with the huge shift towards more consumer-driven online activity. While this may have been expected to dissipate during 2021, values remained incredibly robust with no sign of demand wavering.

“The bounce-back of the home trade sector [also] continues to fuel values, in spite of well documented supply shortages.

“With the ongoing pressure on new vehicle supply, there is every expectation that used van values will remain resilient and we are already seeing signs of increasing demand in the early days of 2022.”

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