AVERAGE used LCV values rose for the fifth consecutive month at BCA in March 2021, again reaching record levels as demand for light commercials continued apace.
Underlining the ongoing demand from professional buyers, LCV values have risen in nine of the 12 months since the pandemic started.
The average monthly value across all LCVs at BCA rose to £9,453 in March with values continuing to outstrip guide prices by a significant margin, maintaining a trend that now stretches well back into last year.
Sale conversion rates for LCVs improved during March, rising to nearly 80% and with younger, higher grade examples generally selling the first time they are offered. Buyers are willing to pay a premium for vehicles that are ready to go back to work without the need for bodywork or mechanical repairs.
Bidder numbers were at the highest point since the pandemic started, with average daily online attendance numbers rising during March as BCA continued to refine and enhance its digital sales programme. As part of the ongoing programme of improvements to the digital experience, BCA continues to deliver upgrades and enhancements to bca.co.uk and the BCA Buyer app that make it even easier for customers to buy online.
Stuart Pearson, Chief Operating Officer, BCA UK, said: “March 2021 saw a significant uptick in demand for light commercials, with sold volumes increasing by more than 26% month-on-month and buyer numbers rising significantly. There continued to be highly competitive bidding across the BCA online sales programme for long, wheelbase, high roof panel vans suitable for hub delivery and courier journeys, alongside sustained demand for medium wheelbase, medium roof vans typically used for final mile, home delivery work.
He added “Bidding on LCVs at BCA has consistently outperformed guide price expectations over recent months and March was no exception with values averaging over 106% of guide across the board. BCA’s Decision Intelligence team are keeping abreast of the current evolving picture in the wholesale LCV sector, and providing sellers with real-time data to inform remarketing decisions. BCA Valuations is the only product that provides an immediate and detailed view of market performance based on actual auction prices and continues to help customers to value their vehicles in line with market sentiment.
“We expect to see this high level of demand maintained as the UK economy slowly reopens, and we will continue to offer the widest selection of LCVs to meet the needs of our professional buyers in our daily online sales programme.”
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