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Values steady in June

The LCV markets remained steady in June, with some typical seasonal price pressure resulting in an average drop of £78 – equivalent to just under 2% – across the board.

Figures for June show that average values fell to £4140 from the £4218 recorded in May and all three sectors – fleet and lease, dealer part-exchange and nearly-new – saw values fall during the month. However, demand was strong with sold volumes actually increasing by nearly 9% compared to May.

At the half-year point, average monthly values have been relatively stable at around £4,200, with only the difficult trading month of April seeing values dip below £4,000.

Values fell by 1.8% in June, although CAP performance actually improved by two points to 98%. Year-on-year values are behind by £140 compared to June last year – when the market was peaking in terms of value.

Sold volumes improved by 8.8% in the fleet & lease LCV sector, with average values sliding by £58 – just under 1.25%. Year-on-year values are adrift by £396 – a similar figure to last month. Fleet vans averaged 97.3% of CAP in May, a two point increase from May.

Having rallied in May, part-exchange values were relatively flat at £2,427 in June, falling by just £12 month-on-month. CAP comparisons improved sharply however from 96.4% to 100.5%. Year-on-year values are behind by £35 (1.4%) – half the deficit of last month and much improved from the 15% differential recorded in April.

Nearly-new values fell by £215 compared to May but remain above the £12,000 threshold at £12,098. As always, this has to be taken in the context of the low volumes reaching the market and the model mix factor. CAP average performance fell by four points but remains strong at 104.2%.

Duncan Ward BCA’s General Manager – Commercial Vehicles commented, “June experienced good steady demand throughout the month, with buyers very active – particularly in the online arena. The market is exhibiting some very typical patterns for the onset of the summer period and – if anything – June 2011 has been more robust than the same month in the previous two years. ”

For more information: www.british-car-auctions.co.uk