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Van values holding up well, auctioneers report
publication date: Apr 16, 2010
Strong demand continues to fuel prices in the used van market according to British Car Auctions. The latest BCA Pulse Report shows that March 2010 achieved the second highest average monthly value on record, suggesting that demand for commercial vehicles has been sustained through the early part of the year. Used LCV's averaged £4,500 across the board in March. BCA's Duncan Ward commented "The used LCV market has seen an exceptionally strong start to 2010. Values are significantly ahead of those recorded in 2009, and if demand stays at current levels we would expect prices to remain firm going forward. With a strong used market and a decent recovery in new van sales in March, it appears there is an increasing confidence in the small to medium business sectors to change or maybe extend their existing commercial fleets." Vans entered by corporate sellers such as company fleets and leasing operators marginally increased in value, by £19 to reach £5,126 - a new record monthly average figure. Values for nearly new vans increased by £371 to £10,036, a rise of 3.8pc that reflects the on-going shortage of late-registered LCVs. Longer-term price trends are also positive. In the first quarter of 2010, van prices averaged £4,507, a significant increase of £593 (15.15pc) compared to the last quarter of 2009 when they averaged £3,914. And year on year, Quarter 1 2010 saw a 41.6pc increase in values. |
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