Used light-commercial vehicle prices have started 2024 with positive signs of recovery, according to major auction house BCA.
During January LCV values reversed a three-month slide, reaching their highest point since September 2023. Values improved by £727 over the month to reach £8,764, equivalent to a 9.0 per cent rise.
BCA reported that whilst buyer participation steadily lifted during the month, the blue lift was boosted by a much-improved mix of vehicles entering the market off the back of a 13th successive month of growth in the new van sector – UK new van registration volumes rose 8.4 per cent to 23,962 units in January, the highest volume recorded for the month in three years.
A further factor was the improving economic backdrop which undoubtedly helped to generate more confidence in the used LCV sector, with retail demand increasing through January.
“There has been a steady lift in confidence in the used LCV sector since the turn of the year, although it still feels like there is room for this to improve further,” said BCA COO UK Stuart Pearson. “As we said last month, the LCV wholesale market is likely to see a return to more seasonal trends in the coming weeks and we expect to see good levels of stock availability, particularly from rental, fleet, lease and contract hire sources.”
Pearson added that condition remains a key factor to ensure that product is attractive to the widest addressable market; “We’re continuing to work closely with a number of customers to ensure that optimal values are achieved through a data-driven approach to refurbishment.”
