Seasonal demand pushes used LCV prices higher

Used LCV values rose during November at BCA as demand for vehicles to service the online and home delivery sector increased in the run-up to Christmas.

Average values moved from £9,141 at the start of November to a high point of £10,488 later in the month.

The performance maintains a six-month run where average LCV values have hovered around the £10,000 mark.

Average monthly values continue to be well ahead year-on-year, with November 2021 values up by £1,394, (equivalent to a 16.4% increase) compared to the same month last year.  Values averaged 102.5% of guide price across the board during November.

Stuart Pearson, COO at BCA UK, said: “The used LCV market remains exceptionally competitive and average selling values at BCA have consistently outperformed guide price expectations throughout 2021. 

“The strong market that we’ve experienced reflects the ongoing economic shift supported by consume-driven online activity plus the well-documented challenges with new LCV supplies.  In addition, and as we anticipated, we have seen demand increase in the final weeks of the year to meet the needs of the hub delivery, courier and final mile home delivery sectors.”

BCA’s commercial vehicle auctions offer up to 700 vehicles each day and attract up to 2,000 different buyers each week. 

The used van wholesale market is beginning to soften, after a year of record high prices and demand, according to Cox Automotive. It believes the wholesale performance of the past 12 months will never be witnessed again, but warns that the early part of next year, at least, looks to continue similar trends.