Used vans retain record values in January 2021, says BCA

Light-commercial vehicles (LCVs) have achieved record values for the third consecutive month at BCA sales.

The remarketing firm says average monthly value across all LCVs rose above £9,000 in January, representing the highest average monthly value since the onset of the COVID-19 coronavirus pandemic in March 2020.

Demand for used LCVs has been triggered by an increase in home delivery services and reduced supply of new models.

BCA recorded average used LCV values of £9,164 in January, a substantial increase of £593 (6.9%) on what was a strong performance in December. Average values outstripped guide prices by over six percentage points, highlighting the ongoing demand for LCV stock among dealers.  

Conversion rates for LCVs also remain high, averaging in excess of 70% across the BCA online sales programme during January. 

Stuart Pearson, BCA's chief operating officer, said: “The rising values for LCVs and high sale conversion levels we are seeing at BCA underline the wider market demand for light commercial vehicles. 

"The signs suggest that these high levels of demand will continue, particularly from the home delivery, final mile and courier sectors serving consumers who are buying online.

 “While there is no sign of overall demand softening currently, we have seen some buyers being a little more selective when it comes to condition. 

"BCA’s insight and intelligence capability continues to closely monitor the marketplace to keep abreast of any changes in market sentiment and ensuring vendors are valuing stock realistically.”