Fleet News

Used van data shows growing business confidence

BCA is reporting a strong second quarter of 2014 in the used commercial vehicle sector.

Average values for commercial vehicles continue to rise, as Quarter 2 2014 posted the highest headline figure on record according to BCA's latest figures.

LCVs averaged £5,460 at BCA over Quarter 2 2014, up by £583 (11.9%) over the twelve month period.  Average age has fallen marginally over the year, while mileage has increased by around 450 miles on average over the same period.

Longer term value growth in the used LCV sector can be seen when comparing 2014 to 2012.  Average values have risen by £1,181 (27.5%) over the 24 month period as the shortage of good quality stock continues and demand increases as economic conditions improve.

BCA's general manager of commercial vehicles, Duncan Ward, said: "There can be little doubt that the improving economic background is giving a boost to the used LCV market, and small and medium-sized enterprises (SMEs) remain positive about future prospects. 

“News of massive infrastructure projects such as HS2 which will generate thousands of construction jobs, as well as numerous A-road improvement schemes and house building projects will do much to improve confidence in small businesses serving the civil engineering and construction industries. 

“The building and associated trades are some the biggest buyers of used LCVs, so we should expect demand to remain relatively strong in the months ahead.

"Additionally, the continued growth in online shopping and home delivery services has created another layer of demand for used panel vans, which is keeping values firm.

"The market was generally strong across the second quarter of 2014 with record average monthly values being set across the board in May.  However, volumes rose noticeably over the period, offering more choice for buyers and introducing some pressure on conversion rates, particularly in April.

"Competition remains very strong for retail quality used stock, and values for these best quality vans remain exceptionally strong, typically outperforming guide expectations by some considerable margin. 

“Buyers particularly like any vehicle with a good useable specification or specialist equipment and there is always demand for Lutons, dropsides and tippers."

 

All vans

Avg Age (mnths)

Avg Mileage

Avg Value

Q2 2012

57.41

77,275

£4,279

Q2 2013

58.18

78,687

£4,877

Q2 2014

58.04

79,140

£5,460


 


Click here for remarketing best practice and procurement insight

Leave a comment for your chance to win £20 of John Lewis vouchers.

Every issue of Fleet News the editor picks his favourite comment from the past two weeks – get involved for your chance to appear in print and win!

Login to comment

Comments

No comments have been made yet.

Compare costs of your company cars

Looking to acquire new vehicles? Check how much they'll cost to run with our Car Running Cost calculator.

What is your BIK car tax liability?

The Fleet News car tax calculator lets you work out tax costs for both employer and employee