LCV values have climbed during the first quarter of 2023 according to the latest insight from BCA, to reach an average of nearly £10,000 during March 2023, their highest point since July of last year.
Average LCV values rose by £126 in March compared to February, to reach £9,977 and sold volumes improved significantly as BCA offered circa 700 LCV’s daily across its online sales programme. Performance against price guides averaged 102.6% during March.
BCA’s weekly valuation reports for March show that average values climbed steadily above £10,000 for the first time since January despite sold volumes being significantly higher in March.
Stuart Pearson, BCA COO UK commented “BCA operates the largest wholesale LCV marketplace in the UK, with the greatest selection of vehicles from the widest number of vendors and with online events taking place seven days a week. Our data shows improving average values, excellent buyer engagement and rising volumes of LCVs sold during the first quarter of 2023, a more positive sales performance than many might have expected given the difficult economic conditions that continue to impact the small business sectors.”
He added “Retail demand remains upbeat according to anecdotal reports from professional buyers and this is helping to support stable values in the wholesale used LCV sector. Whilst the market has been particularly positive during the last quarter, there will always be many moving parts relating to value, performance and desirability. BCA’s scale offering combined with real-time intelligence helps our customers remain in tune with what is really happening.”
Pearson continued “We continue to refine the digital journey for our customers and we’ve delivered new enhancements in recent weeks to support multi-vehicle delivery bookings, along with further enabling the use of BCA’s digital sales collateral to support customers with their own online marketing content.”
He concluded “We remain focussed on using scale and innovation to create increased efficiencies for our customers through every step of their selling and buying with BCA.”
*Article Source www.bca.co.uk
