After three consecutive record months, average values of LCVs sold at auction fell slightly in May, but were still the second highest ever, BCA reports.

Month-on-month values fell by £70, or 0.9%, to £7,502, although year-on-year this was still a significant increase, up by £1,050, or 16.2%, with mileage and age of vehicles sold falling compared with a year ago.

Month-on-month fleet and lease LCV values fell by £108, or 1.2%, to £8,378, with retained value against manufacturer recommended price increasing slightly to 40.82%.

Year-on-year the fleet and lease market rose by £1,199, or 16.7%, with average age falling by one month and mileage by more than 2,400.

Average part-exchange values fell month-on-month by £37, or 0.8%, to £4,391, while year-on-year there was a rise of £246, or 5.9%, with comparative age and mileage rising over the period.

Nearly-new LCV values rose month-on-month by £900, or 5.5%, in May to £17,048, while year-on-year the niche market sector was up by more than £4,000.

BCA COO for UK remarketing Stuart Pearson said: “Demand for good quality LCV stock in ready-to-retail condition continues to outstrip supply across the BCA network, and professional buyers are competing strongly whether they buy physically in-lane or digitally via BCA Live Online.

“Despite the approaching summer holiday season, trading levels remain good and professional buyers remain very active. 

“The LCV market is less prone to the seasonal adjustments that traditionally occur in the car market, partly driven by different levels of supply but also by the nature of purchasing. 

“We continue to see plenty of interest in panel vans to serve the home delivery sector and high levels of demand for vehicles suitable for work in the construction and building trades.”