LCV values set to ease
Market dynamics are changing, which could impact LCV values in the future. That is the view of BCA, which recorded the third highest average monthly value for LCVs in March.
LCV values averaged £10,133 at BCA during the month, the fourth consecutive month that average values have exceeded £10,000 and the third highest monthly value ever recorded.
Stuart Pearson, BCA COO UK, said: “External economic factors continue to impact the wider used LCV marketplace, and trading conditions have toughened somewhat in recent weeks. With sale entry rising, the market has been presented with a greater choice of stock and we are seeing much more selectivity from our buyers. Underlining this, price guide performance has fallen notably in recent weeks as the market dynamics change. BCA Valuations shows that LCVs averaged 96.5% of guide prices in March 2022, compared to 101.2% the previous month and 106.5% a year ago in March 2021.”
He added: “Demand remains buoyant for LCVs in a good retail colour and specification, but as standard models begin to appear in greater volumes they need to be valued in line with market sentiment to attract the buyers. Similarly, those vehicles offered for sale with cosmetic or mechanical issues are becoming much more price sensitive and BCA has been working closely with vendors to recommend where economical refurbishment and SMART repairs can increase desirability for stock.
“This means the playing field for stock purchasing becomes much more level with all customers having the same access to sales across the UK, and at a time that will suit them. Not only does this drive purchasing efficiencies for buyers, but it vastly enhances the opportunity to look across a broader range of stock that would be visible in any physical sale, no matter how big the site.”
