LCV values continued at strong levels at BCA in August, averaging £9,874 over the month, the third highest average value on record. Average monthly values have risen by £2,165 in the past year, equivalent to a 28% increase compared to August 2020.
Over 2,000 different online buyers competed for LCV stock at BCA during the month and with competitive bidding across the board, average values exceeded price guide expectations by 3.3%.
As part of the ongoing programme of improvements to the digital experience, BCA continues to deliver improvements to the LCV grading process along with technology upgrades and enhancements to bca.co.uk and the BCA Buyer app, all making it easier for customers to search, locate and buy stock online.
BCA’s rich mix of product continues to drive the rising average monthly values for lcvs, and with up to 700 light commercial vehicles online daily, buyers are presented with the widest choice of stock at a range of age, mileage and condition parameters.
Every day, BCA offers an entry of panel vans, car derived vans, dropsides, tippers, minibuses, crewcabs, Lutons and pickups from vendors including UKCGR Commercials and BCA Outsourced Solutions, alongside a wide range of other fleet, lease, rental, finance and dealer sellers.
Stuart Pearson, BCA COO UK Remarketing commented “Professional buyer interest at BCA continues to be exceptionally strong for lcvs and we continue to enhance our LCV cataloguing, our grading process and our online buyer services to support the largest registered buyer base for light commercial vehicles in the UK.”
He added “Traditionally, August has been one of the quieter months for LCV sales, with school holidays and the late summer Bank Holiday understandably impacting trade activity. However, the normal seasonal patterns have all but disappeared in 2021 and competition remains incredibly strong for any vehicle that is ready to go to work. These market changes underline just how significantly the remarketing sector is evolving to meet the changing needs of our customers.”
He added “Bidding on lcvs at BCA has consistently outperformed guide price expectations over recent months and August was no exception with incredibly strong conversions fuelling average values to over 103% 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.”
(* Source: BCA Valuations)
*Article Source www.harrisonsadler.com