LCV used market prices remain ‘relatively stable’ during October, says Cap HPI

LCV market prices remained ‘relatively stable’ during October with an average downward value movement of 0.4% for the month, according to Cap HPI.

Medium and large panel van prices were “notably strong” as is expected at this time of year, however the stand-out performers were both “lifestyle and workhorse” 4x4 pick-ups.

Cap HPI's data shows that October was an exceptionally strong month for the medium van sector with an overall price performance of just over 101% of the guide values.

Steve Botfield (pictured), senior editor commercial vehicles at Cap HPI said: “Even though we are entering the peak time of the year in the van sector, the overall market picture for October has been a stable one with all the signs looking positive for the remainder of the year. As we often see during autumn and the run-up to Christmas, demand for large and medium vans tend to increase, although this year we have noticed that prices have weakened on Luton Vans, particularly if they don’t have a tail lift.

“Except for a noticeable lull in activity during the second week of October, largely brought about by a blip in the supply of used stock, attendances were high, and bidding was strong both in the auction halls and on the internet. In fact, some auction sale managers reported that October had been their busiest month so far this year.”

In September this year, it Cap HPI reported that used car values are becoming more volatile as the market becomes more complex.

The data indicated a market realignment through the first half of the year with values heading downward following an unusually strong year in 2018.

The declines slowed in August as the market stabilised with a fall of 1.0%, the smallest fall since March.

Average diesel car values are consistently dropping by more than their petrol counterparts, with August seeing a 1.1% fall compared to 0.8%.