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LCV market continues to lift in October, says BCA

BCA Commercial Pulse October

Average light commercial vehicle values lifted at BCA for the second consecutive month running during October 2019, with corporate, dealer and nearly-new LCV values all rising. The average monthly value of £7,390 across all LCVs sold by BCA in October was the third highest recorded this year thanks to continued strong attendance and confident bidding across BCA’s network of LCV centres, both in-lane and online.

Year-on-year table: All vans

BCA COO UK Remarketing Stuart Pearson commented, “We saw LCV demand continue to improve at BCA in October, building on the strong results seen in the previous month.  The market has noticeably improved since the summer months, and we’ve seen high interest levels across all market sectors.”

He continued “We continue to see ongoing growth in sales to digital bidders with some LCV sales now accounting for more than 50% of the activity. Providing our customers with channel choice remains priority and developing digital products to support their physical activities remains key to the journey in this area. We have seen exceptional uptake by customers for the BCA Buyer app which is driving demand across our entire sales programme. Over 10,000 unique users and more than 50% of active buyers have used the BCA Buyer app since it launched just under a year ago and it is an important part of BCA’s journey to giving customers a truly personalised digital experience that supports their business needs.” 
Pearson concluded “Demand remains strong across the range of product on offer at BCA, with both corporate and dealer vendors enjoying excellent conversion rates. The approaching Christmas period is driving interest in larger delivery vehicles supporting the online shopping sector, and there is continuing demand for LCVs to service the construction and civil engineering industries.” 
Fleet and lease LCVs averaged £8,290 at BCA in October 2019, an increase of £490 (6.2%), month-on-month and the second highest value recorded in 2019.  Year-on-year values were down slightly by just £34 (0.4%).  Sales performance against Manufacturer Recommended Price fell by 1.9 percentage points year-on-year.

Year-on-year table: Fleet & lease LCVs

Part-exchange LCV values improved for the fourth month running, rising by a significant £251 (5.4%) to £4,775 – the highest value ever recorded for P/X LCVs.  Year-on-year values were ahead by £154 (3.3%) with average age and mileage falling compared to a year ago.

Year-on-year table: Part-Ex LCVs

Nearly-new LCV values averaged £14,070 at BCA in October 2019, an improvement of £237 over the month.  As always, these values have to be taken in the context of the volumes reaching the market, the model mix factor and availability of stock.

Year-on-year table: Nearly-new LCVs