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Used LCV values increase for first time this year, BCA reports
Date: Tuesday, July 19, 2022 | Author: Sean Keywood
The average value of used LCVs sold at auction saw the first monthly increase this year in June, according to BCA.
The auction company said the average sale price during the month was £9,800, up by £283 compared with May.
However, the average was still down by £133 compared with June 2021.
According to BCA, despite the monthly price increase, demand for used LCVs remains volatile, with professional buyers continuing to focus on condition and presentation as critical factors, particularly when a vehicle has a good retail specification.
Any imbalance in supply can quickly affect demand and values, BCA says, notably when volumes of standard specification base models begin to rise.
According to BCA, one area of the market that is enjoying sustained demand is conversions and bodybuilds, with buyers paying a premium for Luton-bodied conversions with tail lifts and twin rear wheels.
Mess vans are also said to be in demand, so long as they are fitted out to comply with workplace regulations, and minibuses in good condition are said to be exceptionally sought after.
Refrigerated vans are also said to be performing well, but scarce in the marketplace.
BCA UK COO Stuart Pearson said: “It underlines the somewhat unpredictable nature of the current marketplace that average values should rise in what typically has been one of the quieter months for light commercial vehicle demand.
“The competition for the best presented stock has contributed to the increase in average values this month, however even the best vehicles need to be realistically valued when compared to the premiums that buyers were prepared to pay last year.
“BCA is working closely with vendors to ensure valuation strategies are in line with market expectations and, where appropriate, recommending pre-sale refurbishment and mechanical repair that can help vehicles attract a bigger buyer audience and sell more quickly.
“The market is definitely experiencing a period of volatility, and therefore some realignment of expectations will undoubtedly help to balance out the current mismatch in supply and demand.
“The new LCV market continues to experience pressure, recording the sixth straight month of significant decline in year-on-year volumes, so even though things may be challenging for the used sector, a significant downturn in values is unlikely in the medium term.”
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