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Monthly increase in used LCV values reported
Date: Tuesday, February 20, 2024 | Author: Sean Keywood
The average price of used LCVs sold at auction increased by 9% month-on-month in January, according to BCA.
The auction company said the rise, by £727 to £8,764, was the first seen since September, and chiefly attributed it to a much-improved mix of vehicles entering the market.
BCA said anecdotal reports suggested that momentum steadily grew throughout the month, with retail demand rising as it progressed, and an improving economic backdrop helping to generate more confidence in the used LCV sector.
BCA UK COO Stuart Pearson said: “There has been a steady lift in confidence in the used LCV sector since the turn of the year, although it still feels like there is room for this to improve further.
“As we said last month, the LCV wholesale market is likely to see a return to more seasonal trends in the coming weeks and we expect to see good levels of stock availability, particularly from rental, fleet, lease and contract hire sources.
“Condition remains a key factor to ensure that product is attractive to the widest addressable market, and we’re continuing to work closely with a number of customers to ensure that optimal values are achieved through a data driven approach to refurbishment.”
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