Used light commercial vehicle (LCV) values have reached a plateau at around £3,500.
While July recorded a rise of nearly £100 (2.8%) over June to reach £3,566, values have been reasonably static for the past five months, according to BCA’s latest figures.
Duncan Ward BCA’s general manager for commercial vehicles, said: “Following the turmoil of last year, it seems a sense of balance has returned to the used LCV marketplace.
“While values have moved little over the past five months, this is by no means a suggestion that prices have stalled indefinitely.”
Ward said that current price levels could be said to be outperforming the traditionally slow ‘summer holiday season market’.
He said: “It will be very interesting to see if there is another spike in values in September similar to that experienced in March when used values rose sharply.”
Used LCV values are ahead of the low point of £2,772 recorded in December last year, but remain a way off last year’s market peak of £3,868 achieved in January 2008.
Year-on-year values are now ahead by around £250, remembering that prices were beginning to collapse this time last year.”
According to BCA’s figures, performance against CAP is creeping back towards the 100% highpoint recorded in March, and currently stands at 98.42%.
Fleet and lease van values are arguably the best indicator of activity and demand in the used LCV market. Values improved by £83 against last month (up by 2.2%) but have remained relatively static around a price point of £3,800 for the past five months, suggesting supply and demand is finely balanced.
Performance against CAP improved to just over 98% from 96.62% in June and 95.75% in May. There have been few other noticeable changes in the profile of fleet & lease vans this year, although the mileage has crept up over the past two months.
There was a sizeable increase in average values for dealer-entered part-exchange stock in July, with a rise of £176 (9%) to £2,134, compared to June.
Ward said: "CAP performance at 97% must be seen as exceptional for vans that average over six years old and have covered more than 80,000 miles. Year-on-year values are ahead (by £123 or 6.1%) for the first time this year."
For the second month running, average values in the nearly-new van market are completely out of step with other sectors.
Average nearly-new values fell quite sharply to £7,959 in July from the £9,158 recorded in June, while fleet and lease and part-exchange values climbed. Despite this, performance against CAP rose from 104.72% to 106.16%, suggesting that model mix was largely responsible for the fall against last month.