LCV values averaged £9,938 at BCA in January 2023, as strong online buyer demand saw values rise to their highest point since last July.
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.
BCA’s LCV buyer customers reported improved demand at retail level as January progressed, despite the continuing economic pressures affecting the small business sector and reports that business confidence has fallen amongst SMEs.
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.
Stuart Pearson, BCA Chief Operating Officer 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 defleeted.”
He added “We’ve seen further acceleration of demand into February with the strength of the used LCV market surprising many. With a significant March defleet extremely unlikely, competition for available stock means that used LCV values should remain resilient for some time to come.”
