October was another strong month for light commercial sales at BCA, recording the third highest average monthly value and the second highest sold monthly volume since the onset of the pandemic in March.
BCA recorded average used LCV values of £7,757 in October, down by £237 (3.0%) on the exceptionally strong performance reported in September. Average values continue to outstrip guide prices by around ten percentage points, highlighting the ongoing demand for LCV stock from professional buyers.
Up to 700 light commercial vehicles are offered by BCA daily and a new programme of Saturday sales and Monday and Thursday evening sales has launched in recent weeks, offering a wide choice of LCVs. Conversion rates remain high, averaging in excess of 80% across the BCA online sales programme during October.
Stuart Pearson, BCA COO UK Remarketing commented “October is typically the time of year when we start to see a shift in demand, and there was a feeling throughout the month that trading was moving towards a more seasonal pattern.”
“In the weeks running up to Christmas, we would expect to see an uptick in demand for LCVs to meet the needs of the home delivery sector. However, LCVs have been in high demand throughout the majority of the year due to the significant shift towards online retailing and that demand has continued unabated into the autumn months.”
“The onset of Lockdown 2.0 could cause some short-term volatility and we strongly encourage our customers to use the most up to date decision intelligence as the market moves over coming weeks.”
Pearson concluded “BCA’s Decision Intelligence team are keeping abreast of the current evolving picture in the wholesale 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.”
*Article Source www.harrisonsadler.co.uk