Auction giant BCA has reported that average used LCV values were stable in May at £8,077, down marginally on April’s figure by £38 (0.5%) but outperforming price guide expectations by 1.9%.
Sold values were ahead of the same month last year by £104 (1.3%) and over the calendar year to date, LCVs have averaged £8,358, up by 7.1% compared to the same period last year.
Stuart Pearson, COO at BCA UK, said: “The two-tier market we highlighted last month continued to develop during May and there is now a marked difference in buyer engagement for those well-presented, lower mileage vehicles that can be quickly turned into a retail opportunity and those light commercial vehicles that require cosmetic and mechanical attention prior to retail. This is being exacerbated by the shortage of capacity nationwide in the preparation and repair sector, potentially leading to delays in vehicles being made available for retail.”
He added: “BCA’s continued investment in its refurbishment infrastructure across its comprehensive estate allows more vehicles to be presented to the best possible standard to support a first-time sale, benefitting buyers and sellers alike. Our automated processes and data driven approach to selection is helping to identify more vehicles that benefit from pre-sale refurbishment, allowing sellers to make an informed decision around investment in both cosmetic and mechanical enhancement as well as shortening the time to retail.”
