Used van values improved during November at British Car Auctions (BCA) as demand grew steadily for vehicles to service the online and home delivery sector in the run-up to Christmas.
The month-on-month figures in November rose by £31 (0.3 per cent) to £9,892, maintaining a six-month run where average LCV values have hovered around the £10K mark.
Average values continue to be well ahead year-on-year, with November 2021 values up by £1,394 – equivalent to a 16.4 per cent increase – compared to the same month last year.
Values averaged 102.5 per cent of guide price across the board during November.
While the monthly figures remain relatively stable, the weekly figures provided by BCA valuations painted a different picture during November.
These showed that average values moved from £9,141 at the start of November to a high point of £10,488 later in the month as demand increased for light commercials to meet the needs of the home delivery sector ahead of Christmas.
Stuart Pearson COO BCA UK said: “The used LCV market remains exceptionally competitive and average selling values at BCA have consistently outperformed guide price expectations throughout 2021.
“The strong market that we’ve experienced reflects the ongoing economic shift supported by consume-driven online activity plus the well-documented challenges with new LCV supplies.
“In addition, and as we anticipated, we have seen demand increase in the final weeks of the year to meet the needs of the hub delivery, courier and final mile home delivery sectors.”
BCA’s commercial vehicle auctions offer up to 700 vehicles each day and attract up to 2,000 different buyers each week.