{"id":6975,"date":"2015-01-09T15:11:17","date_gmt":"2015-01-09T15:11:17","guid":{"rendered":"http:\/\/www.vanrental.co.uk\/vanblog\/?p=6975"},"modified":"2015-01-09T15:11:17","modified_gmt":"2015-01-09T15:11:17","slug":"bca-used-van-values-hit-new-record-but-sector-prices-tell-different-story","status":"publish","type":"post","link":"https:\/\/www.vanrental.co.uk\/vanblog\/archives\/6975","title":{"rendered":"BCA used van values hit new record but sector prices tell different story"},"content":{"rendered":"

\"BCAUsed van values hit a new high of \u00a35,870 in December, according to the latest figures from\u00a0British Car Auctions (BCA).<\/p>\n

However, in the two biggest used segments — ex-fleet\/lease and part-ex — values\u00a0were not\u00a0<\/em>the highest on record. Instead they were second highest (ex-fleet\/lease) and third highest (part-ex).<\/p>\n

Presumably a greater proportion of ex-fleet\/lease vans, and perhaps the influence of the small group of nearly new vans (<1 yr old), were responsible for pushing the overall average up to a new record level.<\/p>\n

This tends to support my theory that in the main volume segments of the market, prices have\u00a0flattened out.<\/p>\n

Market review<\/h3>\n

December saw surging demand for vans for courier and parcel delivery work, as you’d expect.<\/p>\n

Given the\u00a0appalling rates of pay\u00a0on offer for self-employed and subcontracting operators in this sector, it’s no surprise that they were targeting used vehicles — I wonder if a portion of these will be resold, now that the Christmas rush is over?<\/p>\n

Anyway, here are\u00a0the December figures from BCA, along with last year’s numbers:<\/p>\n\n\n\n\n\n
\n

All vans<\/b><\/p>\n<\/td>\n

\n

Avg Age (mnths)<\/b><\/p>\n<\/td>\n

\n

Avg Mileage<\/b><\/p>\n<\/td>\n

\n

Avg Value<\/b><\/p>\n<\/td>\n

\n

Sale vs CAP<\/b><\/p>\n<\/td>\n<\/tr>\n

\n

Dec 2013<\/b><\/p>\n<\/td>\n

\n

59.37<\/p>\n<\/td>\n

\n

81,351<\/p>\n<\/td>\n

\n

\u00a35,311<\/p>\n<\/td>\n

\n

102.07%<\/p>\n<\/td>\n<\/tr>\n

\n

Dec 2014<\/b><\/p>\n<\/td>\n

\n

56.05<\/p>\n<\/td>\n

\n

78,157<\/p>\n<\/td>\n

\n

\u00a35,870<\/p>\n<\/td>\n

\n

101.31%<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

Source: BCA (www.british-car-auctions.co.uk<\/a>)<\/em><\/p>\n

On a year-on-year basis, prices were 10.5% higher in December 2014 than\u00a0one year earlier, although the\u00a0average sale value slipped back slightly against CAP values, despite falling age and mileage.<\/p>\n

Ex-fleet\/lease<\/h3>\n

In the ex-fleet\/lease market, which I believe accounts for more than half of BCA’s sales,\u00a0the changes were much smaller:\u00a0the average price of \u00a36,669 was the second-highest on record and was just 2.8% higher than in December 2013. That’s only slightly above inflation.<\/p>\n

Again, the\u00a0premium over CAP was reduced, with vans selling for 100.3% of CAP price\u00a0last month, compared to 101.5% in December 2013.<\/p>\n

Part-ex<\/h3>\n

The other big\u00a0sector for BCA is cheaper part-exchange vans, which tend to be older and higher mileage. Here, the average sale price of \u00a33,848 was 3.4% higher than last December.<\/p>\n

Interestingly, the average sale price\u00a0against CAP rose from 103% in December 2013 to 105.4%\u00a0last month,\u00a0despite average mileage rising from 92,447 to 96,271\u00a0and\u00a0<\/em>average age rising by 5 months from 78 to 83 months.<\/p>\n

I suspect many of these were last minute, short-term Christmas courier buys which took place after the Black Friday sales,\u00a0although I could be wrong.<\/p>\n

What’s next?<\/h3>\n

Overall, these figures still give me the feeling that\u00a0the used market is quite stretched and unlikely to rise significantly higher, especially as more ex-fleet and newer part-ex vans feed into the market, as\u00a0new sales rise.<\/p>\n","protected":false},"excerpt":{"rendered":"

Have used van prices reached a peak? Despite the BCA average sale price hitting a record in December, the main volume drivers stayed below previous highs, suggesting to me that the market is flattening out.<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[8],"tags":[624],"_links":{"self":[{"href":"https:\/\/www.vanrental.co.uk\/vanblog\/wp-json\/wp\/v2\/posts\/6975"}],"collection":[{"href":"https:\/\/www.vanrental.co.uk\/vanblog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.vanrental.co.uk\/vanblog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.vanrental.co.uk\/vanblog\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.vanrental.co.uk\/vanblog\/wp-json\/wp\/v2\/comments?post=6975"}],"version-history":[{"count":3,"href":"https:\/\/www.vanrental.co.uk\/vanblog\/wp-json\/wp\/v2\/posts\/6975\/revisions"}],"predecessor-version":[{"id":6979,"href":"https:\/\/www.vanrental.co.uk\/vanblog\/wp-json\/wp\/v2\/posts\/6975\/revisions\/6979"}],"wp:attachment":[{"href":"https:\/\/www.vanrental.co.uk\/vanblog\/wp-json\/wp\/v2\/media?parent=6975"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.vanrental.co.uk\/vanblog\/wp-json\/wp\/v2\/categories?post=6975"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.vanrental.co.uk\/vanblog\/wp-json\/wp\/v2\/tags?post=6975"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}