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Seasonal factors affecting used LCV market as values fall, BCA reports
Date: Tuesday, September 20, 2022 | Author: Sean Keywood
The UK used LCV market saw a fall in values during August, with seasonal factors having an impact, according to remarketing firm BCA.
It said the average value of used LCVs sold at auction during the month was £9,864 – a £356 fall compared with July, and a £10 fall compared with August 2021. However, it was still ahead of the values seen in May and June this year.
BCA said the value shift was largely a result of the change in model mix typically seen at this time of year.
Performance against guide prices and conversion rates both improved during August, and average weekly values rose as the month went by, rising above £10,000 again in the final week.
BCA UK COO Stuart Pearson said: “The overall picture in the LCV market suggests a settling into more familiar trading patterns as the constraints imposed by the pandemic have receded.
“Admittedly, many economic pressures remain on those small businesses that typically purchase used LCVs at retail, but this is balanced by a shortage of the best-quality, forecourt ready stock in the wholesale sector.
“The ongoing demand for retail quality light commercials means there is plenty of competition for the best examples reaching the market, exacerbated in August as volumes of corporate stock tend to be lower. The few late-plate light commercials on offer can make exceptional values and, as always, the best graded vans with a good specification and in an attractive retail colour remain very desirable.
“It’s becoming a familiar refrain, but the basics are critical in the current market, so vendors should work closely with their remarketing partner to ensure that their LCVs are realistically valued, properly prepared and graded, and accurately catalogued to attract the right buyers.”
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