BCA has reported “encouraging signs” from a used van market which experienced a 1.8% (£177) decline in average wholesale values during September.
Average values were down from £9,864 to £9,687 last month, according to data from BCA’s remarketing channels.
The downward movement was largely a result of the change in model mix that is typical at this time of year, as volume swelled and the delta between the prices of the best and less desirable stock grew, it said.
Stuart Pearson, chief operating officer at BCA, said: “We are hearing anecdotal reports from our buyer customers that retail van sales have been relatively strong in September despite the ongoing economic pressures and the political turmoil of recent weeks that saw the cost of borrowing rise and inflation rate figures at a forty year high.
“September’s LCV market continued to show some encouraging signs with good churn and rising sold volumes.”
Performance against guide prices improved for the second month running, rising to 98.8% over the month.
After LCV values peaked in the last week of August, average weekly LCV values initially fell slipped in September, before climbing steadily week-on-week to nearly £10,000 in the final week of the month.
Last week AM reported on rising used van values at Aston Barclay during Q3.
Values rose for the first time this year during the period after a slight decline in prices during the first seven months of the year, it said.
The remarketing firm said that despite the average age and mileage of vehicles sold remaining higher than two years ago, the used van price cap of £8,023 still smashes the £6,204 cap of Q3 of 2020.
Pearson said: “Alongside strong levels of demand for panel vans in every configuration we have seen increasing interest in 4×4 double cabs in recent weeks – further indication of the return of seasonal trends to the LCV sector.
“Whilst the delta between the prices of the best presented and poorer condition LCVs needs to be closely managed, currently buyer and seller expectations are reasonably aligned which is keeping stock turning and entries fresh.”