Following two months of significant strength, light commercial vehicle values fell sharply to £7,888 in October as a shifting stock mix influenced the overall average value of LCVs sold, according to BCA.
The vehicle remarketing specialist said average LCV values came under pressure between September and October, influenced by numerous factors that traditionally influence market dynamics at this time of year.
Also, following the September plate change, the stock mix shifted into October, and values softened across several commonly offered models.
Ongoing cost-of-living concerns and seasonal factors ranging from school holidays to the Bbudget announcement created some caution, but despite average values falling, the number of active buyers remained healthy for the time of year.
In addition, performance against guide price expectations fell by 4%, a figure that was influenced by both the reduced average value and several sellers taking a very proactive approach to keeping their inventory churning as the market eased.
Stuart Pearson, BCA COO UK, said the best-presented and most desirable light commercials continued to attract competitive bidding, with some achieving exceptional prices, while older, higher-mileage examples, and very specifically those in poor condition, needed to be keenly priced to generate interest.
He added: “As we’ve moved out of October and into November, the clamour for those vehicles that can be quickly put to work to support the pre-Christmas parcel rush is once again evident.
“However, with good supply levels continuing to hit the market, our advice remains for sellers to be pragmatic around pricing, invest in the right level of refurbishment, and to keep stock turning by using all of the available tools and channels that working with BCA brings.”
