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Monthly auction values of LCVs have risen for the fourth consecutive month, according to BCA.
Average values in February rose from £4,427 to £4,585 – a new record high. Average values have improve by £727, or 18.8 per cent, since November.
Values increase
Year-on-year values increased by £1,468, meaning that used values have recovered by 47 per cent over the past 12 months.
“After the recovery seen in used LCV prices in 2009, most market watchers might have expected values to settle in 2010, but demand has taken off like a train,” Said Duncan Ward, BCA’S general manager of commercial vehicles.
“Put simply, there is a shortage of just about everything and whether you are looking for a cheaper budget van, a well-used but tidy ex-lease vehicle or a late-plate model, you are going to run into plenty of competition to secure it. And that means higher prices and no real sign that is going to change in the near future.”
Short supply
Ward said volumes of vans remain in short supply and he expects prices to remain firm.
“Even though demand remains high, prices are likely to be more in tune with typical seasonal adjustments than we have seen over the previous 24 months.”