Fleet & Lease van values fall for fourth month running, says BCA
According to the August BCA Pulse report, average fleet/lease values fell by £73 (1.5%) to £4,757 – a similar decrease to that recorded in July. Values have now fallen for four months in a row, following a run of six consecutive "record months".
However, BCA said that average fleet/lease values remain well ahead compared to the same month in previous years – over £700 higher than August 2009 and nearly £1,250 ahead of the same month two years ago. Values are over £1,700 ahead when compared to the bottom of the market in December 2008.
Average values for LCVs at BCA actually rose in August, halting a three-month decline. Trade activity picked up in advance of the expected September rush and values improved by £99 to £4,211 in August, compared to the £168 fall recorded in July.
BCA said it was the first sign of value improvement recorded since the spring months and the record values achieved in April. It also underlines the return of seasonal trends to the marketplace, with a slower summer season leading into a busier autumn period.
Duncan Ward, BCA's general manager – commercial vehicles, commented: '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. 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.'