Higher used LCV sales volumes during October and November is no surprise but the rate of increase witnessed during October appears to be particularly high and LCV expert Steve Botfield predicts that if demand continues to increase at the same rate, sales for the last three months of the year could outstrip those seen in 2017.
October was a strong month for the LCV sector achieving on average almost 100% of the guide values. On average most sectors have had price increases this month with the most notable being in the largest of the sub sectors, medium vans, which have gone up by 2.2% overall.
Strong demand for small vans remains evident with most models achieving around 100% of guide price. In the strongest performing LCV sector, medium vans, values have gone down by 1% with a few exceptions, the most notable being the VW Transporter which have increased by 3%.
Commenting on the data, Steve Botfield, senior editor commercial vehicles at cap hpi said: “Even though we are entering peak time of the year in the van sector, it’s been a particularly strong October and the signs are looking good for the rest of the year.
“However, there have been some signs that stock shortages might be on the way as at the auctions we’ve seen a variety of professional buyers paying well above the guide prices for vehicles that were exhibiting significant amounts of damage, particularly in the medium and large van sectors.”