According to the Department for Transport’s National Statistics 07, total traffic levels rose by just 1.1% between the third quarter of this year compared to the same period in 2006.
However, LCV use rose by 12% over the same period. As a result, demand for used vans is also reaching an all-time high.
Lex has reported that demand for used LCVs from migrant workers is helping to drive high residual values for many models.
There has been a 15% increase in transaction prices for sales of LCVs in excess of four years old compared to the same period in 2006, with more than 94% of such vehicles selling at the first time of entry.
Lex says it has seen a significant increase in the number of immigrants attending its sales and bidding on LCVs.
“It’s interesting to see the positive impact that the increase in immigration has had on the used van market in 2007,” explained Jon Walden, Lex managing director.
“Performance in the used van market this year has exceeded everyone’s expectations.”