Autumn boost leads to van value rise
30th September 2010
For the first time in three months the value of light commercial vehicles has risen, British Car Auctions has claimed.
In August the average value of an LCV rose 2.4 per cent to £4,211, after falling £168 in July.
Nearly-new and part exchange vehicles also saw an increase in value during August, rising by £1,508 and £59 respectively.
The boost, which may affect van insurance premiums, is being put down to the traditional autumn market resurgence.
But fleet and lease values have fallen for the fourth consecutive month by 1.5 per cent to £4,757.
"Professional buyers were notably more active in August, buying stock to get ahead of the game before the anticipated hike in demand expected in September," said Duncan Ward BCA's General Manager - Commercial Vehicles.
"Buying was still selective, however, with well-specified vehicles in good condition outperforming the market by a considerable margin, with little appetite for vans requiring refurbishment or repair. The buyers serving the retail market are looking for retail-ready vehicles to take away and sell tomorrow, not vehicles to sit in the repair bay or spray booth. High mileage and scruffy condition is a major turn-off, unless the vehicle is a rare and desirable specification."
Copyright © Press Association 2010
