BCA’s latest Pulse report shows rise in van values
The BCA have released data from their latest Pulse report. There was more fantastic news for the LCV market, as values for light commercial vehicles reached record levels in September, despite the continued shortage of quality used van stock on the market.
According to the BCA report, average values for vans rose 2.8% to £5,158, an increase of £145 compared to the previous August record, thanks in part to the fleet & lease and dealer part-exchange sectors. Values in the fleet & lease LCV sector improved by £194 (3.1%) in September to a new record value of £6,408. However, nearly-new LCV values fell in September by £1,767 to £12,694.
Duncan Ward BCA’s General Manager – Commercial Vehicles commented, “BCA saw exceptional levels of demand for light commercial vehicles during September, with a number of 100% conversions for corporate sellers and notably higher average values for fleet/lease vehicles. The market remains very short of good quality stock and with anecdotal evidence suggesting retail activity picked up in September there was very competitive bidding right across the remarketing sector last month... With professional buyers increasingly looking at buying older, higher mileage vehicles we have seen values rise in the dealer P/X sector, while demand for the very few late year, low mileage LCV’s remains intense. As always, good condition is the key and vans with a nice specification and in an attractive retail colour are very desirable.”
“Looking ahead, there are no signs that stock availability is going to rise substantially this year or even into 2014. There is an ongoing shortage of younger used LCVs in the marketplace because of the lower new van sales following the onset of the recession.”
From the data on the BCA report, it clearly shows that quality mature vans are holding their values more this year, which is great news for those who plan to re-sell it on the market or p/x when buying a newer model, but not so good if you are the buyer looking for a quality used van at a bargain price. With stock shortages and higher costs, if you are in need of a new or new-to you van right away, perhaps it’s wise to consider leasing or contract hiring a new van. With leasing or contract hire, you don’t need to worry about the future value of the van and it allows you better control of your monthly budget/expenditures. Take a look at the Low Cost Vans website, we offer an unrivalled choice of vans with competitive hire purchase and leasing quotations.
According to the BCA report, average values for vans rose 2.8% to £5,158, an increase of £145 compared to the previous August record, thanks in part to the fleet & lease and dealer part-exchange sectors. Values in the fleet & lease LCV sector improved by £194 (3.1%) in September to a new record value of £6,408. However, nearly-new LCV values fell in September by £1,767 to £12,694.
Year-on-year table: All vans
All vans | Avg Age (mnths) | Avg Mileage | Avg Value | Sale vs CAP |
Sept 2012 | 57.93 | 78,805 | £4,224 | 100.72% |
Sept 2013 | 59.33 | 80,217 | £5,158 | 105.19% |
*Data table from the BCA Pulse Report
Duncan Ward BCA’s General Manager – Commercial Vehicles commented, “BCA saw exceptional levels of demand for light commercial vehicles during September, with a number of 100% conversions for corporate sellers and notably higher average values for fleet/lease vehicles. The market remains very short of good quality stock and with anecdotal evidence suggesting retail activity picked up in September there was very competitive bidding right across the remarketing sector last month... With professional buyers increasingly looking at buying older, higher mileage vehicles we have seen values rise in the dealer P/X sector, while demand for the very few late year, low mileage LCV’s remains intense. As always, good condition is the key and vans with a nice specification and in an attractive retail colour are very desirable.”
“Looking ahead, there are no signs that stock availability is going to rise substantially this year or even into 2014. There is an ongoing shortage of younger used LCVs in the marketplace because of the lower new van sales following the onset of the recession.”
From the data on the BCA report, it clearly shows that quality mature vans are holding their values more this year, which is great news for those who plan to re-sell it on the market or p/x when buying a newer model, but not so good if you are the buyer looking for a quality used van at a bargain price. With stock shortages and higher costs, if you are in need of a new or new-to you van right away, perhaps it’s wise to consider leasing or contract hiring a new van. With leasing or contract hire, you don’t need to worry about the future value of the van and it allows you better control of your monthly budget/expenditures. Take a look at the Low Cost Vans website, we offer an unrivalled choice of vans with competitive hire purchase and leasing quotations.
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