Average values for light commercial vehicles sold at auction fell marginally by £37 (0.6%) during the month of August to £5507.

This is the second month in a row that values have fallen following a prolonged period of growth, and the year-on-year value is also down, by £151.

The fleet and lease sector recorded average values of £6188, a fall of £92 (1.4%) compared to July’s figure, while year-on-year values were down by £617 (9.0%).

Average part-exchange LCV values increased by £87 (2.3%) in August to £3810 – the highest monthly value recorded since November 2014, and year-on-year values were also ahead by £232 (6.4%).

Nearly-new LCV values fell by £346 (2.5%) compared to July’s figures, to £13,445. The remarketing giant said the fall is down to very low volumes reaching the market, the availability of new-shape vehicles reaching the marketplace and the model mix factor

“We commented earlier this year that values were likely to come under pressure over the summer months, as a result of rising volumes, an increase in poor condition vehicles and the strong new van market,” said Duncan Ward, BCA’s head of commercial vehicles.

He added “With the benefit of hindsight we can also now see how the shortage of retail quality stock, combined with the rising demand for LCVs as the economy improved, pushed average prices up over an extended period.  Average values climbed steadily throughout 2012, 2013 and 2014, with month-on-month and year-on-year growth becoming the norm.”