Automotive Industry Digest

Latest Fleet News For The Automotive Industry

Residual value update

Fleet sector LCV used values at record levels in September, says BCA

BCA has reported that average used light commercial vehicle (LCV) values in the fleet and lease sector climbed to a record level in September.

The fleet and lease sector saw average used LCV values improve by £439 (6.2%) over the month, establishing a new record value of £7,491.

Retained value against MRP (Manufacturer Recommended Price) improved by a point and a half to 37.89%.

Year-on-year, values in the fleet and lease sector are significantly ahead, up by £607 (8.8%), with average age and mileage declining when compared to the same period in 2016.

The headline value improved by £231 (5.1%) to £6,651, while year-on-year values were up by £511, equivalent to an 8.3% increase over the period.

Average age and mileage continued to decline, reflecting the growing share of corporate stock sold as well as the higher volumes of younger rental stock seen over recent months.

BCA’s LCV operations director Duncan Ward said: “BCA offered increased volumes of stock during September and attracted a lot of new buyers as a result.

“Demand was strong across the board, with corporate vendors enjoying excellent conversion rates and average values rising to a new record high.

“The LCV market has seen continued value and volume growth throughout much of 2017.

“There has been steady demand for vehicles to service online shopping delivery, the construction and civil engineering industries and the small business and entrepreneurial start-up sector.

“BCA continues to experience plenty of demand for tippers and dropsides, Lutons and larger panel vans, the latter often going back to work to service the online shopping sector.”

Automotive Industry Digest

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