The used light commercial vehicle (LCV) market in 2024 has become highly fragmented, as small and medium-sized enterprises (SMEs) focus on interest rates and cash flow management before committing to vehicle replacements. This cautious approach has led to a diverse range of LCVs being in demand.
In June, the Citroen Relay topped Aston Barclay’s desirability index, followed by the VW Amarok and the Mercedes Vito. The presence of a large panel van, a pick-up, and a mid-size panel van in the top three highlights the current fragmentation within the market.
No single size or type of LCV dominates the used market. Instead, dealers are prioritising sourcing more affordable vehicles for their SME customers, who remain wary of high borrowing costs and the need to maintain cashflow.
The June index also features four medium-sized LCVs: the Mercedes Vito, Mercedes Citan, VW Transporter, and Ford Transit Custom. Larger panel vans, such as the Citroen Relay, Peugeot Boxer, and IVECO Daily, also continue to be in demand. Additionally, three pick-ups — the VW Amarok, Toyota HiLux, and Isuzu D-Max—round out the top 10.
“The market has slowed since Christmas, and dealers are having to work harder to sell used LCVs to SMEs who are still feeling the pinch of higher interest rates and a higher cost of living,” said Geoff Flood, Aston Barclay’s head of LCV. “Many SMEs continue to hang onto their current LCV rather than replace it, but this cannot continue forever as vehicles age and become more costly to maintain.”
Flood noted that demand for used LCVs remains focused on vehicles priced below £10,000. He added that those in good condition, with high specifications and metallic paint, tend to fetch higher prices than entry-level, lower-spec vehicles.
Aston Barclay’s monthly desirability index evaluates three key metrics: web views before sale, the number of physical and online sale bids, and the sale price achieved as a percentage of CAP average (the price for a vehicle in average condition, that is, showing minor cosmetic damage).
