BCA Commercial Pulse December 2019
BCA reported another strong month for average light commercial vehicle values in December 2019 as the year drew to a close.
Buyers were active on the run up to the festive period, and the shortened trading window created focused demand. In-lane and online auctions were well attended throughout December, with confident bidding across the national network. Buyers focused heavily on the best specified and presented vehicles, with hard-worked, damaged or base specification examples needing to be sensibly valued.
Average LCV values slipped by just £80 from November, with the average value of £7,293 impacted by a changing model mix driven by an increased percentage of dealer P/X vehicles sold. Fleet & lease values were the second highest recorded this year and nearly-new values climbed significantly to their highest point in 2019. Year-on-year, values were down by just £22 despite both age and mileage rising over the period, by two months and over 3,000 miles respectively.
Year-on-year table: All vans
BCA COO UK Remarketing Stuart Pearson commented, “December is a shorter trading period and creates focused buyer demand with particular interest in vehicles with a retail type specification, an unusual configuration or special equipment and, as always, any vehicle suitable for the delivery or courier markets was sought after. Also over the Festive period, BCA saw strong engagement with customers on its Bid Now and Buy Now channels along with a very well attended special LCV event held on New Year’s Eve at BCA Measham. The market has returned strongly in January, with record sales across the network since the turn of the year and significant levels of activity from online bidders.”
Fleet and lease LCVs averaged £8,338 at BCA in December 2019, the second highest monthly value recorded in 2019 despite the average age and mileage profile rising. Year-on-year values were up by £62 (0.8%) again with average age and mileage both rising. Sales performance against Manufacturer Recommended Price fell by 2.1 percentage points year-on-year.
Year-on-year table: Fleet & lease LCVs
Part-exchange LCV values averaged £4,566 at BCA in December 2019, a fall of £120 from November’s figure, largely as a result of the shorter trading period. Year-on-year, values were down by £194 (4.1%) with similar age and mileage recorded.
Year-on-year table: Part-Ex LCVs
Nearly-new LCV values rose to their highest point in 2019, averaging £17,417 at BCA in December 2019, a significant month-on-month improvement of £1,150 (7.1%) and ahead by £493, year-on-year. 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