Wednesday, September 29 2010
The average values for LCVs at BCA experienced an up-tick during the month of August; this stopped a three-month decline in values. Prior to the expected September increase in business, trade activity increased in August. August values increased from £99 to £4,211, in comparison to July’s decline of £168.
Van insurance comparison site from The Van Insurer
This is the first indication of value improvement on record since Spring and the record value levels that were seen in April. This also underscores seasonal trends back in the marketplace, as the slower summer numbers giving way to better numbers in Autumn.
BCA’s General Manager of Commercial Vehicles, Duncan Ward noted that professional buyers were showing more activity in August, as they bought stock to get out in front of the game before the anticipated increase in demand that is expected in September. However, Duncan was quick to point out that the buying was still selective buying, as well-specified models that were in good position outperforming the rest of the market by a notable margin. Duncan also point out that the buyers in the retail market were searching for retail-ready vehicles that they can acquire and sell the next day, not vehicles that have to spend time in the repair bay or the spray booth. According to Duncan, vehicles that have a lot of miles on them and are scuffed up are a major turn-off to buyers unless the vehicles are of a rare and desirable specification.