Used van values reach record levels

The BCA (British Car Auctions) has released new figures that bring with them more good news this week for commercial vehicle values. According to the BCA data, average values of CV’s have continued their upward climb in January 2014, seeing them post a rise of the highest figures on record.

Light commercial vehicles increased throughout the month, rising £11 to £5,322 compared to the values posted for December 2013. There has been speculation that the increase can be attributed to short stock levels with buyers competing for the limited used LCV’s available on the market.

BCA’s General Manager – Commercial Vehicles, Duncan Ward, commented “January essentially delivered more of what we saw throughout the previous 12 months – a shortage of stock allied to decent levels of demand that generated exceptionally strong prices in the used van market.”

There was more fortunate news for used vans, as even though the average age increased, the values climbed again in the dealer part-exchange sector.  Values rose to £3,752 which sees a rise of £29 (0.7%) compared to December, establishing another record monthly value. The data also showed average mileage of part-ex vans declined as year-on-year values remain ahead compared to a year ago.

The figures below, provided in BCA's latest press release and published by BCA Analytics, shows that van values have crept well above the £5,000 mark for the last six months.



Year-on-year table: All vans

All vans	Avg Age (mnths)	Avg Mileage	Avg Value	Sale vs CAP
Jan 2013	56.64	80,736	£4,669	102.24%
Jan 2014	57.90	79,654	£5,322	102.24%

 

Year-on-year table: Part-Ex vans

Part-Ex	Avg Age (mnths)	Avg Mileage	Avg Value	Sale vs CAP
Jan 2013	77.69	95,136	£3,196	104.80%
Jan 2014	79.41	94,028	£3,752	103.40%

 

For more, facts, data, and details on the BCA report, please visit the BCA website by clicking here.