Average LCV values climb to record highs in March, says BCA

By Tim Campbell

23 April 2018

For the second month running, average light commercial vehicle (LCV) values climbed to record levels in March, thanks to “exceptional” buyer demand, reports BCA.

LCV values rose across the board to £7,464, a notable rise of £395 in one month and representing a 5.5% uplift. Year-on-year, values are up by a significant £938 (14.3%), underlining the sustained value evolution in the used light commercial vehicle sector.

Much of the uplift in March was driven by the corporate sector, where values rose sharply by £596 over the month following another strong month of trading in-lane and online, although values also rose for part-exchange vans and in the low volume nearly-new sector.

LCV stock levels remained high at BCA as the company’s newly introduced sales programme staged additional sales nationwide.

Year-on-year table: all vans

All vans	Avg Age (mnths)	Avg Mileage	Avg Value
Mar 2017	50.95	66,037	£6,526
Mar 2018	49.73	65,634	£7,464

BCA chief operating officer UK Remarketing, Stuart Pearson, said: “BCA is experiencing exceptional demand from buyers for LCV stock resulting in record-breaking performances around the group.

“The corporate sector has seen average values rise significantly this year, with professional buyers competing strongly for one-owner vans.

“BCA’s expanded nationwide LCV sales programme is presenting buyers with a greater choice of vehicles, whatever their location and whether they buy physically in-lane or digitally via BCA Live Online.”

Fleet and lease LCV values rose sharply in March to reach a new record of £8,291. Values climbed by £596 from February’s figure, equivalent to a 7.7% increase and one of the largest monthly price changes on record.

Retained value against MRP (Manufacturer Recommended Price) also increased significantly, rising by two and a half points to 40.40%. The year-on-year value differential of £1,198 (16.8%) is also one of the largest on record. Average age fell slightly and mileage declined by around 3,000 miles when compared to the same period in 2017.

Year-on-year table: fleet and lease vans

Fleet/Lease	Avg Age (mnths)	Avg Mileage	Avg Value	Sale vs MRP
Mar 2017	39.38	60,554	£7,093	36.09%
Mar 2018	38.78	57,584	£8,291	40.40%

Average part-exchange LCV values rose by £33 (0.7%) in March to £4,458, the third highest monthly value recorded for part-exchange LCVs. Year-on-year, values were up by £225 (5.3%) with comparative age falling and mileage rising compared to the same month in 2017.

Year-on-year table: part-ex vans

Part-Ex	Avg Age (mnths)	Avg Mileage	Avg Value
Mar 2017	81.59	86,286	£4,233
Mar 2018	80.81	91,647	£4,458

Nearly-new LCV values rose in March to £15,605, with year-on-year values showing a £2,182 (16.2%) uplift. As always, this has to be taken in the context of the very low volumes reaching the market, seasonal pressures and the model mix factor, says BCA.