Values have risen for nine out of the last ten months, and record values have been set for six months in a row.  Average values for fleet & lease vans have exceeded £5,000 for three consecutive months having reached that benchmark for the first time in February.

BCA’s Duncan Ward commented: 'Average values are continuing to climb in the fleet market, with April marking a new high point and the third consecutive month that average values for fleet & lease vans have exceeded £5,000.'

Used LCVs averaged £4,693 across the board in April, an increase of £193 (4.2%) compared to March’s figure.

Looking at performance against CAP, the fleet & lease sector achieved 100.93% while the market as a whole averaged 101.58%, although there is a little downward pressure from last month.

Mr Ward added: 'Although we are in a period when we might typically expect prices to stall, values continue to march on. The good levels of demand, allied to a relatively thin supply of stock at almost every price point means there is plenty of competition for every van we sell.'