Fleet News

Used van values continue downward spiral

The fall in used light commercial vehicle values continues to mirror that of used cars, according to the latest auction results.

Average values for LCVs fell last month and are now holding just above the £3,000 watershed.

The average value for all vans sold by BCA fell to £3,083 in October, down by £107 or 3.3% - the biggest fall since June when values tumbled by around £250.

Both fleet and lease and part-exchange values continued their downward spiral, while nearly-new values rallied slightly.

The current average values of LCVs are now around £800 behind those recorded earlier in the year.

Fleet and lease vans fell by £128 (3.6%) to £3,353 and are now almost 20% below their January values.

There was also a very significant downward move of nearly six points in CAP performance last month, which now sits at under 78%.

Duncan Ward , BCA’s UK business development manager – commercial vehicles, said: “Most notably, the guide prices appear to be out of step with the market realities being faced by vendors.

"During the January peak, fleet and lease vans averaged over 93% of CAP, yet now that figure is 77% - on stock that is actually younger and lower mileage.”

He said the situation is not expected to improve before the end of the year.
 

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