Used LCV values fall in July

Average values for LCVs fell slightly to £5,544 in July from £5,587 in June, a fall of £43 (0.7%) over the month.

In contrast, year-on-year values were ahead by £46 (0.8%) with age static and mileage declining in 2015, according to BCA. 

Performance against CAP was down by over two points compared to last year at 99.49%.  

BCA’s head of commercial vehicles Duncan Ward said: “As we said last month, we expected to see some pressure on average values between now and the new registration plate in September. 

“Not only have volumes risen in the wholesale markets with some questions over poor condition stock, the new van market is very buoyant and there are some very tempting deals about. 

“Buyers have more choice now than they have experienced at any time this year and are understandably focussing on the best presented vehicles.”

Values for fleet and lease LCVs averaged £6,280 in July – a fall of £167 (2.6%) compared to June.   

CAP performance fell by over two points to 99.03% from 101.26% in June and retained value against MRP (manufacturer recommended price) declined by a point to 34.2%.  

Year-on-year, values were down by £184 (2.8%), with performance against MRP down by one and a half points.

Average part-exchange LCV values declined for the second month running in July, although the fall was minimal at just £20 (0.5%) over the month to £3,723.  

CAP average comparisons fell by 1.5 points to 101.3% but continue to outperform the fleet & lease sector.   

Year-on-year values were ahead by £86 (2.3%), while CAP performance declined by two points over the year.

Nearly-new LCV values averaged £13,791 in July – a fall of £500 (3.5%) compared to June despite CAP comparisons improving by over 2.5 points. 

As always, this has to be taken in the context of the very low volumes reaching the market and the model mix factor, as well as the increasing availability of ‘new shape’ models reaching the used market.