Average prices of used light commercial vehicles remain strong, and have climbed 11.3% in the 12 months to June 30, 2019, according to an Aston Barclay insights report.
Auction values of LCVs were up by £469, despite an overall year-on-year average mileage rising from 89,113 miles in Q2 2018 to 91,591 in Q2 2019.
During Q2 2019 double cab pick-up prices rose £527 to £9,205 from Q1 supported by a fall in average mileage from 80,278 miles in Q1 to 76,442 miles in Q2.
Geoff Flood, commercial vehicle sales manager at Aston Barclay, said: “We have seen a change in the profile of stock coming into the auction over recent months.
“Used vans are generally younger and with fewer miles on the clock which may signal a change in fleet replacement cycles as well as vehicles travelling fewer miles.
“Double cab pick-ups are workhorses and recreational vehicles and have a strong following in the used market.
“Corporate users are replacing these vehicles more often, probably because new prices and deals are very keen and residuals are strong,” he said.
Last month (July) was the seventh consecutive month of growth for new LCVs as registrations rose by 10.95% versus July 2018 with 25,862 new vehicles registered.
The demand continued to grow with buyers being attracted to the latest, cleanest LCVs, said Aston Barclay.
July returned increases of 17.2% and 16.9% respectively for the 2.0-2.5-tonne and 2.5-2.5-tonne sectors.
Counteracting some of these increases was a 12.4% decline in the sub 2.0-tonne sector and a fourth consecutive monthly decline in the pickup sector, this time by 4.6%.