July 25, 2024

May 2024 sees a substantial rise in LCV sales volume, reports BCA

The UK-based British Car Auctions (BCA) has reported a significant increase in sales volume of large commercial vehicles (LCVs) in May 2024, reaching the highest level of the year.

This surge is in line with BCA’s expanded sales program, offering customers a wider selection of stock.

In May, the average LCV value saw a slight decrease to £8,013 ($10,188) from £8,347 in April, attributed to a shift in the product mix with more vehicles being released from fleet and lease sectors.

The pattern of LCV value changes from April to May mirrors the previous year, indicating a resurgence of seasonal market trends post-pandemic.

BCA has witnessed growth in the LCV sector, with a significant double-digit percentage increase in volume from fiscal year 2023 to 2024.

To meet the growing demand, BCA now offers LCV sales seven days a week through BCA Online. A second sale lane has been added on Tuesdays, Wednesdays, and Thursdays to showcase the diverse stock range more effectively.

BCA has also updated its Commercial Vehicle Cosmetic Grading system, making it easier for buyers to evaluate and compare vehicle conditions.

The demand for vans ready for immediate use remains high among professional buyers, with a focus on condition and presentation intensifying across all LCV sectors.

In the new van sector, the LCV market has seen continuous growth for the 17th consecutive month, with new LCV volumes in May increasing by 1.9%, the strongest performance since 2021.

BCA UK’s chief operating officer, Stuart Pearson, mentioned that supply and demand were relatively balanced in May, with sellers and buyers aligning on price expectations.

Considering the widening gap between the best and worst vehicles, BCA is collaborating closely with sellers to improve vehicle conditions and maximize sales potential through the latest LCV grading release data.

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