Used van values improve as demand increases

Used light commercial vehicle (LCV) values improved and sold volumes continued to rise at BCA during October.

While used LCV pricing has been volatile for much of 2024, values improved during both September and October as buyer numbers at BCA have continued to rise.  

Average monthly used LCV values rose to £7,501 in October, up by £51 (0.7%) from the £7,450 recorded in September.  

BCA sold values continued to outperform guide price expectations, averaging 102.9% in October, a rise of 2.2 percentage points month-on-month.

Sold volumes rose significantly during the month as the market made preparations for the increased demand for delivery vehicles in the run-up to the Christmas period.  

Volume also lifted considerably versus the same period last year with sold LCVs running 28% ahead of October 2023.

Stuart Pearson, BCA’s chief operating officer in the UK, said: “The used LCV market saw prices realign quite sharply between April and August of 2024, but the market has bounced back recently with two consecutive months of modest value growth recorded and BCA continuing to see significantly increased volumes of light commercials sold.

“A little consistency in pricing goes a long way to building strength across the wider marketplace. It means sellers can value vehicles realistically in line with market expectations, while buyers can purchase stock in the confidence that values are likely to remain steady in the weeks ahead.  We are seeing this confidence reflected in rising buyer numbers at BCA and record sales volumes for light commercial vehicles.”

Pearson concluded: “While values have improved, the market remains price sensitive and this is a good time to remind everyone that whilst the remarketing basics remain as important, our science to support adding value has significantly improved.  

“Investing in the right level of both mechanical and cosmetic repairs can add significant value and improve first time conversion.”