Used LCV values saw a slight fall in February, but with sustained buyer demand, according to BCA.

The auction firm said the average sale price last month was £9,851, down from £9,938 in January. However, performance against price guides improved sharply to 105.7% ­– a 3% rise month-on-month.

BCA said reportedly improving business confidence among SMEs, amid a slowly improving economic outlook, was likely to help drive demand for used LCVs.

The company’s weekly valuation reports showed that average values were relatively steady throughout February, following a steep climb earlier in the year, which it said suggested that supply and demand were currently well balanced.

BCA UK COO Stuart Pearson said: “Following a good start for the used LCV sector in January, we have experienced more of the same in February with robust price performance and rising volumes of vehicles sold.  

“Also with the economic landscape starting to look a little brighter and improved confidence levels amongst small businesses, we expect used LCV values to remain fairly resilient for some time.

“While there has been an improving picture in the new LCV sector for a number of months, it will be some time before we see any significant volume of younger vans reaching the used market. We’re also entering the third anniversary period of the first Covid lockdown when there was minimal activity in the light commercial sector for a few months, and that means a potential dearth of three-year-old stock until the summer.  

“Taking all these factors into account, it is likely the marketplace for LCVs will remain competitive for some months to come.”