
Strong Performance in LCV Trading
The used Light Commercial Vehicle (LCV) market is thriving, as evidenced by the July trading numbers from BCA (British Car Auctions). Despite a dip in average values to £7,817—down £371 from June—the figures are up £407 (5.5%) compared to last July. This snapshot reveals a robust demand, indicating a healthy marketplace for used LCVs amidst ongoing challenges in new LCV registrations.
What’s Driving Buyer Demand?
According to Stuart Pearson, BCA’s Chief Operating Officer for the UK, the ongoing demand for used LCVs surpassed expectations, primarily due to an aggressive online sales program. BCA recorded a record high sale of over 9,500 LCVs in July alone. Notably, nearly 2,700 different buyers participated in the auctions, a testament to the competitive landscape of the used vehicle market.
Market Trends and Future Outlook
Looking forward, Pearson anticipates that the current conditions will persist into the fall. As August opens strong, there is optimism notwithstanding the approaching September plate change. The upbeat outlook emphasizes the hunger for stock and the heightened interest from buyers, ensuring a bustling trading environment in the upcoming months.
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