Improving market and stock mix increase used van values

Used light commercial vehicle (LCV) values bounced back at BCA in January, reaching their highest point since September of last year.

The increase reversed a run of three consecutive monthly falls. 

Values improved by £727 over the month to reach £8,764, equivalent to a 9% rise. 

While buyer participation at BCA steadily lifted during January, a much-improved mix of vehicles entering the market helped to support the value lift reported.

Anecdotal reports suggested that momentum steadily grew throughout the month, with retail demand rising as January progressed and the improving economic backdrop helping to generate more confidence in the used LCV sector, said BCA. 

The new van sector also continued to return positive results, growing for the 13th consecutive month with UK new van registration volumes rising 8.4% to 23,962 units in January, the highest volume recorded for the month in three years. 

Stuart Pearson, BCA UK’s chief operating officer, 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.” 

He added: “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.”