Strong demand sees used LCV values at near record levels at BCA

Sustained demand to service online shopping, home delivery and trade sectors saw values of LCVs achieve near record numbers at BCA in December.

The average value of £10,001 was the second highest average monthly value on record and a continuation of the strong values seen throughout 2021.

It maintains a seventh-month run where average LCV prices have hovered around the £10,000 mark. 

November 2021 values were up £1,394 (equivalent to a 16.4% increase) compared to the same month last year.

Stuart Pearson, COO UK of BCA, said: “This was a strong result for LCV sales in what has traditionally been one of the quieter trading months of the year.

“Our buyer customers appreciated the opportunity to purchase vehicle throughout the festive period, replenishing stock and getting prepared for what we all anticipate will be a buoyant market in 2022.

“There was a boom in values in the used LCV sector following the onset of the pandemic with the huge shift towards more consumer-driven online activity.

“While this may have been expected to dissipate during 2021, values remained incredibly robust with no sign of demand wavering.

“The bounce-back of the home trade sector continues to fuel values, in spite of well documented supply shortages.”

Pearson added BCA expects used van values to remain resilient with the ongoing pressure on new vehicle supply.

“We are already seeing signs of increasing demand in the early days of 2022,” he said.