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July 29, 2014updated 12 Apr 2017 3:57pm

Strong Q2 for LCVs

The average value for a light commercial vehicles (LCV) in the UK rose 11.9% to £5,460 (€6,901.4) in the second quarter of 2014, compared to the same period 2013, according to British Car Auctions (BCA), with price increases coming from all segments.

By Jonathan Minter

The average value for a light commercial vehicles (LCV) in the UK rose 11.9% to £5,460 (€6,901.4) in the second quarter of 2014, compared to the same period 2013, according to British Car Auctions (BCA), with price increases coming from all segments.

BCA revealed these figures in its quarterly Pulse report, which also showed that the average age of vehicles fell from 58.18 months in the second quarter 2013, to 58.04 months in the second quarter 2014. In the same period mileage climbed from 78,687 to 79,140.

The average value of fleet and lease vans rose £662, or 11%, to £6,685, year-on-year, in the second quarter, with the average age falling from 43.06 months to 41.42 months, and average mileage increasing from 67,629 to 69,349.

While the average value of part exchange commercial vehicles also grew, up £438 to £3,637, the average age also increased in this sector, from 78.87 months to 80.87 months, while mileage fell, down 834 miles to 93,908.

It was a similar story in the nearly new market, where a 6.8% increase in value to £13,077 was accompanied by a drop in the average age, from 8.70 months to 8.26 months. In this instance average mileage increased, however, from 11,981 to 12,739.

Commenting on the findings, BCA general manager – Commercial Vehicles, Duncan Ward, said "The market was generally strong across the second quarter of 2014 with record average monthly values being set across the board in May. However, volumes rose noticeably over the period, offering more choice for buyers and introducing some pressure on conversion rates, particularly in April."

"Competition remains very strong for retail quality used stock, and values for these best quality vans remain exceptionally strong, typically outperforming guide expectations by some considerable margin."

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