The average value of LCVs sold at BCA has reached a record high for the second month in a row.

The average value seen in March was £7,464, an increase on the previous month of £395, or 5.5%.

Year-on-year values were up by £938, or 14.3%.

According to BCA, much of the uplift in March was driven by the corporate sector, where values rose sharply by £596 over the month following another strong period of trading in-lane and online, although values also rose for part-exchange vans and in the low volume nearly-new sector.

BCA’s UK boss for remarketing Stuart Pearson said: “BCA is experiencing exceptional demand from buyers for LCV stock resulting in record-breaking performances around the group. 

“The corporate sector has seen average values rise significantly this year, with professional buyers competing strongly for one-owner vans. 

“BCA’s expanded nationwide LCV sales programme is presenting buyers with a greater choice of vehicles, whatever their location and whether they buy physically in-lane or digitally via BCA Live Online.”

Fleet and lease LCV values rose sharply in March to reach a new record of £8,291 – an increase on the previous month of £596, or 7.7%.

This also meant a year-on-year increase of £1,198, or 16.8%.

Retained value against manufacturer recommended price also increased, by two and a half points to 40.4%.

The average age of vehicles sold fell slightly, and mileage declined by around 3,000 miles when compared with the same month in 2017.

Average part-exchange LCV values rose during March by £33, or 0.7%, to £4,458, the third highest monthly value recorded.

Year-on-year, values were up by £225, or 5.3%, with comparative age falling and mileage rising.

Nearly-new LCV values rose in March to £15,605, with year-on-year values increasing by £2,182, or 16.2%.