The used van market was flooded with stock in January, according to auctioneer BCA. This had the inevitable effect of putting pressure on selling prices.
Despite this, a richer mix of used stock helped to support prices and the average van (LCV) value at BCA reached a record of £6,409, £13 higher than in December.
Source: BCA
Indeed, BCA says that the last four months have seen the four highest average values on record. Average used van values are now up by 8.6%, or £508, on this time last year.
Year-on-year prices (all vans):
| All vans | Avg Age (mnths) | Avg Mileage | Avg Value |
| Jan 2016 | 54.94 | 73,881 | £5,901 |
| Jan 2017 | 52.34 | 70,775 | £6,409 |
Source: BCA
According to BCA, pressure on prices was particularly strong in the fleet, lease and daily rental sector, where the average used value fell by 1% compared to December. Prices also fell in the nearly-new sector and were broadly flat in the part-exchange sector.
Taken together, this sales profile seems to make it clear that only a more valuable mix of vans prevented the average used price from falling in January. However, demand remained solid, according to BCA’s LCV Operations Director, Duncan Ward:
“While January saw good levels of buyer activity at BCA and a busy marketplace, the volumes available from a variety of sources simply outstripped demand. This impacted conversion rates and average values as buyers were presented with a much wider choice of stock.”
“As we have seen in recent months, there is plenty of interest for any vehicles with an unusual configuration or special equipment and, as always, any vehicle suitable for the delivery or courier markets was sought after. Vehicles suitable for the construction and building industries remain sought after, with tippers and dropsides selling strongly.”
The strength of the used market bodes well for the UK economy and the van rental sector, but it will be interesting to see how the balance between used supply and demand changes over the coming months.