LIGHT commercial vehicle usage has rocketed during the current Covid-19 pandemic is light commercial vehicles.
Small businesses and shops, unable to open their doors, have been turning to home deliveries, reflected in the fact that the LCV used market continued its upward trend in Q1 registering the highest average price since Aston Barclay launched its market insights report in 2017.
Van prices rose by 7.6% (£350) from £4,573 in Q4 2019 to £4,923 in Q1 2020 until the Covid-19 lockdown closed the market in late March.
This was aided by a fall in average age from 70 months in Q4 2019 to 64 months in Q1 2020. Average mileage remained consistent at 105,000 miles.
Double-cab pick-up prices also rose by 5.6% (£524) from £9,233 in Q4 19 to £9,757 in Q1. A shortage of stock remains in this sector which is helping keep prices healthy.
Average age increased slightly from 65 to 67 months while mileage remained constant at 70,000 miles, which reinforces the market has found its optimum replacement cycle.
Geoff Flood, Aston Barclay’s commercial vehicle sales manager, said: “We believe the used van market will reset itself quickly once dealers and auctions are back open as LCVs will be at the forefront of getting the country back on its feet.
“We should remember that LCVs have been working hard during the lockdown, some working double shifts and covering thousands of miles each week.
“Operators will be looking to replace some of these vehicles, while a supply of new vans will be delayed as OEMs get their production facilities up and running which may help used van prices.
“Reports are that many leasing contracts have been extended so we should see an additional surge of ex-fleet stock coming to auction a little later than expected in 2020 which will also help fuel used market demand.”