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Used LCV prices in the UK remained stable in February at the BCA

Prices for large commercial vehicles (LCVs) remained stable in February 2024 at BCA, a UK-based used car business.

This marked a slight decrease of £24 (0.3%) from January, which averaged £8,740.

The stability comes despite a slight dip, as prices were up 8.7% from the low point in December.

BCA said performance against guide prices improved by one percentage point to 99.3% in the month, and prices sold saw a significant increase, continuing the momentum from January.

Confidence in the used LCV sector is underpinned by a steadily improving economic climate, and the new van sector also showed positive signs as February marked its 14th consecutive month of growth, the BCA also revealed.

Although the growth rate was limited to 2.2%, it continued the growth seen in recent months.

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BCA COO UK Stuart Pearson said: “The confidence we saw from the start of 2024 continued into February with excellent consumer engagement, strong prices and improving stock. Our daily online car sales allow us to track sentiment very closely and ensure that our sellers and buyers are in line with market trends.

“Although we are only a few months into the new year, the sense of seasonality that was being talked about is becoming more apparent and there is a good balance between supply and demand, which is welcome news for both sellers and buyers alike.”

The trading pattern in March has been consistent, said Pearson, adding that although there may be some pressure during the Easter period, trading is well equipped to handle such conditions, and there is a view that the market will stabilize and balance well. in the coming months.

Earlier this year, BCA’s LCV rates saw a significant rebound, marking a significant recovery from three consecutive months of decline.

This positive trend is not only due to increased consumer participation but also a good mix of vehicles entering the market, suggesting healthy demand within the used LCV sector.

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