Average values of ex-fleet and lease LCVs fall 1.7% at BCA in August

Average values of ex-fleet and lease LCVs sold at BCA fell £124 (1.7%) to £7,052 in August, having been essentially static for the previous three months.

Taking a longer view, average values for corporate LCVs have been relatively stable since October of last year, when they moved above £7,000 for the first time on record.

Retained value against MRP (manufacturer recommended price) fell half a point to 36.23%. 

Year-on-year, values were up by £272 (4.0%), with average age and mileage declining when compared to the same period in 2016. 

Overall, average light commercial vehicle values fell in August, the first monthly fall in the headline figure since April. 

The headline value fell by £133 (2.0%) to £6,420 with average values declining for fleet & lease and nearly-new values, although dealer P/X values climbed sharply to a new record level. Sold volumes of LCVs continued to rise across the board at BCA.

Year-on-year values remain well ahead, up by £331, equivalent to a 5.4% increase over the period.

Average age and mileage continued to decline, reflecting the growing share of corporate stock sold as well as the higher volumes of younger rental stock seen over recent months. 

BCA’s LCV operations director Duncan Ward said: “While the headline average figure declined in August, demand remained strong and sold volumes improved, month-on-month.

"Dealer PX values climbed sharply to a new record level, although there was some pressure on fleet & lease stock values, largely as a result of declining volumes from the daily rental sector, alongside some duplication of stock and condition issues.” 

He added “Condition has always been the overriding factor for professional buyers and is critical to achieving first time conversion rates.

"What buyers want is clean condition, well maintained stock with all the relevant documentation direct from vendors who price their vehicles realistically.

"Taking condition out of the equation, there will always be demand for vehicles with rare and unusual specification, or those finished in a good retail colour with a high specification.”