Light commercial vehicle (LCV) values in the UK averaged £9,938 in January 2023, as demand from online buyers saw values rise to their highest point since last July, the BCA reported.
Values rose by £486 (5.1%) compared to December and performance against price guides improved to 102.7%, a rise of 3.9 percentage points, month on month. Sold volumes rose rapidly and were well ahead, month on month.
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LCV buyer customers reported improved demand at the retail level as January progressed, despite the continuing economic pressures affecting the small business sector and reports that business confidence has fallen amongst SMEs, the BCA reported.
Looking in detail at the weekly reports shows that average values rose quickly in the New Year, peaking at over £10,600 later in January, well ahead of where they have reached in recent weeks, the BCA reported.
Stuart Pearson, BCA COO UK, said: “Demand for light commercial stock was frequently intense during January as the LCV sector got back to work after the December break. Despite the ongoing economic issues facing every area of commerce – and small businesses in particular – there was healthy appetite across most of the LCV sectors, with the main point of volatility being in the small volume of electric vans de-fleeted.”
He added: “We’ve seen a further acceleration of demand into February with the strength of the used LCV market surprising many. With a significant March de-fleet extremely unlikely, competition for available stock means that used LCV values should remain resilient for some time to come.”
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