Confidence in the used market is growing and that is reflected in the rising average price for light CVs, says British Car Auctions (BCA). Its latest report says the average prices for vans have increased £427 on February to £3,544, and are now £772 up on the low point registered in December 2008.
Duncan Ward, BCA's UK business development manager for CVs, says there is a lot more confidence in the used light CV market in
2009.
"The recovery in the fleet and lease sector is significant as it is by far the biggest volume provider into the used market," he says.
"Dealers say sourcing stock is currently their biggest issue to meet the improved retail demand, and increased competition is keeping values keen."
The part-exchange market has seen price increase by £50 to £1,935, although volumes remain subdued as dealers retail these vehicles rather than trade them.
The lot of late-year vans continue to improve and average prices in March were up £552 to £8,991, although BCA's year-on-year comparison is down by almost £2,000, perhaps a clearer reflection of how this sector of the used market has slumped.
Reed Business Information Limited.©2009
