2020 LCV market gets off to a positive start with a return to stable values
Latest data analysis from cap hpi shows LCV values remained relatively stable throughout January, with most sectors performing well and only the minibus sector under-performing.
The new year got off to a flying start in the used LCV market with trade buyers out in force snapping up used stock with fierce competition seen between auction hall and internet buyers.
Accounting for just under 30% of all used LCV sales in cap hpi’s data last month, the medium van sector showed strength in January with overall prices down 0.5% or £49 at 3 years and 60,000 miles.
Commenting, Steven Botfield, senior editor, commercial vehicles and motorcycles at cap hpi said: “Unusually many of the larger used LCV retailers were noticeably cutting back on spending by mid-November last year. It is highly likely this can be attributed to the political and economic uncertainty that was hanging over the country at the time, rather than the festive holiday period. It remains to be seen if January’s bustling auctions halls and healthy sales conversion rates represent a turning point in the market or if it’s simply a release of pent-up demand as the market has seen in previous years.”
In the city van sector, the Ford Fiesta Diesel 1.6 TDCi ECOnetic van is driving trade market prices across the sector. Astravan continues to appear in the market in relatively high numbers despite being discontinued by Vauxhall in 2012. While prices dipped by 2%, with an average market price of around £1040, this amounts to a price drop of around £20.
Representing around 23% of all used LCV sales in cap hpi’s research data, January was another strong month for the small van sector. On average prices have gone down £39 or 0.8% .
Price performance of the large van sector saw prices down on average by 0.3% or £49, with a few notable exceptions where prices have remained the same as last month.
With sales volumes returning to around the same levels seen prior to the Christmas holiday slow down, it was another strong month for 4×4 lifestyle pick-ups. On average there has been a downwards price movement of 0.3% or £35.
With a 2.2% share of the total LCV sales, market prices held firm for most models in the 4×4 pick-up workhorse sector. Toyota Hilux took 4 out of the Top 10 positions on sales volume and accounted for around 39% of all sector sales. Market prices fell by around 0.2% or £14 in this sector.
To access further information, including previous monthly summaries, please visit https://www.cap-hpi.com/editorials/all.
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