February van values steady, says BCA

The headline average value of a used LCV sold at BCA in February fell by just under one percentage point from the record level achieved in January.

Values for LCVs sold at BCA averaged £5,848 in February – a fall of £53 (0.9%) compared to January’s record figure of £5,901. Year-on-year values, however, were up by a substantial £316 – equivalent to 5.7% - with the average van in 2016 being around five months younger and nearly 1,450 miles less travelled.

BCA’s LCV operations director, Duncan Ward said: “Demand continued in February with trade buyers competing strongly for the best-presented LCVs. We saw LCV sale records broken around the network, notably at Blackbushe.  Confidence remains relatively high, but as indicated last month, a two tier market is developing with the most attractive, retail quality vans often outperforming the market by some margin, while higher mileage or damaged examples are less desirable.” 

Ward added: “It underlines the importance of appraising and valuing vehicles sensibly, as this builds buyer confidence and delivers benefits for buyers and sellers alike.  BCA continues to innovate in this area, with the unique BCA Video Appraisal for LCVs providing a valuable tool for Live Online bidders who do not get to see the vehicle ‘in the metal’.”

The fleet and lease sector recorded average values of £6,625 in February, an increase of just £5 compared to January and the highest monthly value recorded since 2014.  Retained value against MRP (Manufacturer Recommended Price) fell marginally to 34.44%.   Year-on-year, values were up by £92 (1.4%), although performance against MRP was down by 1.5 percentage points.