Average light commercial vehicle values recorded at BCA increased by 9% from £6,396 in December 2016 to a new record high of £6,976 at the end of last year.
Average mileage fell from 70,027 to 63,446 miles during the period, and the average age fell from 53 to 49 months.
"There has been plenty of interest for any vehicles with a retail type specification, unusual configuration or special equipment and, as always, any vehicle suitable for the delivery or courier markets was sought after," BCA’s LCV Operations Director, Duncan Ward, commented. “However, any vehicle in poor condition struggled to get the buyers attention unless it was keenly valued. Early signs are the market returned strongly in January.”
Values in the fleet and lease LCV sector increased by 8% to £7,760, while retained value against MRP (manufacturer’s recommended price) was stable at 38%. Part-exchange values increased by 5.5% to £4,215, although comparative age and mileage were notably lower in 2017 and this will have impacted average values. Nearly-new LCV values stood at £17,056 in December, compared to £14,683 12 months previously. As always, this has to be taken in the context of the very low volumes reaching the market, seasonal pressures and the model mix factor.