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Used LCV values steady, BCA reports
Date: Tuesday, November 22, 2022 | Author: Sean Keywood
The average value of used LCVs sold at auction fell by just £15 month-on-month in October, according to BCA.
The auction company said this performance underlined a good balance between supply and demand.
The £9,674 average was a £187 decline compared with October 2021.
BCA also reported a third consecutive month of improving performance against guide prices, which went above 100% for the first time since February. It said this suggested competition for stock was increasing, something it said was expected to be maintained with a likelihood of reduced volumes of stock availability in the last few weeks of the year.
The company has also noted strong demand at its specialist 4x4 events as the winter months approach.
BCA UK COO Stuart Pearson said: “Despite the worsening economic conditions in recent weeks, demand remains well balanced against supply in the wholesale LCV market and average values reflect this.
“Much of this demand has been generated by the relative shortage of stock at every price point, most notably of nearly-new and retail ready vehicles which have been in short supply all year.
“There is also some seasonality at play with anything that can support increased activity in the home delivery being strongly contested, along with additional interest in any vehicle that becomes more desirable when the weather changes.”
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