Average used LCV values remain high at BCA in August

Light commercial vehicle (LCV) values continued at strong levels at British Car Auctions (BCA) in August, averaging £9,874 over the month, the third highest average value on record.

Average monthly values have risen by £2,165 in the past year, equivalent to a 28% increase compared to August 2020.

BCA reported more than 2,000 online buyers competed for LCV stock at BCA in August and average values exceeded price guide expectations by 3.3%.

Stuart Pearson, BCA chief operating officer UK remarketing, said: “Professional buyer interest at BCA continues to be exceptionally strong for LCVs and we continue to enhance our LCV cataloguing, our grading process and our online buyer services to support the largest registered buyer base for light commercial vehicles in the UK.

“Traditionally, August has been one of the quieter months for LCV sales, with school holidays and the late summer Bank Holiday understandably impacting trade activity.

“However, the normal seasonal patterns have all but disappeared in 2021 and competition remains incredibly strong for any vehicle that is ready to go to work.

“These market changes underline just how significantly the remarketing sector is evolving to meet the changing needs of our customers.”

Bidding on LCVs at BCA has outperformed guide price expectations over recently months, it said, with conversions driving average values to more than 103% of guide across the board.