Large supply of standard model vans has been creating market pressure. Credit: Dmitry Kalinovsky / Shutterstock.

UK’s vehicle remarketing business BCA has reported record-breaking sale volumes for light commercial vehicles (LCVs) in July 2024.

This surge in sales comes amid a period of fluctuating LCV pricing, though buyer engagement and numbers have shown a notable increase since the beginning of the year.

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The average LCV value dipped to £7,410 ($9,778) last month, a decrease from June’s average of £7,845.

This decline was influenced by a significant adjustment in guide prices, continuing a trend of value pressures that began in the second quarter of the year owing to a large supply of standard model vans.

The supply boom was the fallout of the pandemic when the production of base-specification models increased to combat parts supply bottlenecks and other challenges.

BCA COO UK Stuart Pearson said the LCV market, over the last few months, has been facing fairly significant pricing realignment, and greater movements are expected to come.

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Pearson added: “Whilst there isn’t any shortage of buyer interest, the sellers that are taking a very pragmatic approach to investing in the right level of preparation, along with valuing vehicles realistically, are achieving the best results.

“With many base spec vehicles in the system, buyers will inevitably focus their attention on those that can be turned the fastest and the delta between the best and worst condition is likely to increase further.

“The guide price move into August certainly injected some realism into the market, but currently there’s still the expectation of further moves which should bring sellers and buyers closer together in their expectations.”