Sold volumes of light commercials improved at BCA during May as a greater choice of stock reached the used sector.
Average monthly LCV values slipped, mainly driven by a shifting product mix and some seasonal pressures, but still remain broadly on par with values seen earlier this year.
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Following a substantial rise in April, when values reached their highest point in over a year, used LCVs averaged £9,639 in May, a fall of £686 (6.6%) over the month. Year-on-year, however, values were up by £122 (1.3%) and it is noticeable that LCV value movements between April and May were similar in 2022, underlining that some seasonality is returning to the markets as the effects of the pandemic recede.
Sold volumes lifted during the month, a reflection of some improved returns in the contract hire sector, while performance against price guides fell to 98.9% (from 102.4% in April), with sellers being increasingly pragmatic in meeting buyers’ value expectations.
Vans suitable to be put to work in the home delivery sector continue to be sought after by professional buyers, but condition and presentation have become increasingly more important across all LCV sectors with a widening gap between the best and worst presented vehicles.
Stuart Pearson, BCA COO UK said: “Supply and demand was well balanced in May, with sellers and buyers being generally in tune around price expectations. As is typical for this time of year we’ve seen numbers lift in the fleet and lease sector, however the mix of vehicles has created some interesting challenges for the market.
“The gap between the best and worst vehicles has certainly widened and we’re working very closely with sellers to improve the condition of vehicles to maximise the potential for first-time sale.”
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