Van Insurance News
BCA: Van prices continue to drop
9 July 2010
Van insurance customers would be interested to know that prices for light commercial vehicles (LCV) have continued to drop for the second month running.
All sectors of the LCV market registered a fall in values in June, according to the latest Pulse Report from BCA.
The average price of a LCV decreased by 4.1 per cent from the figure recorded in the month before. It reflected a fall of £186 to average £4,280.
Duncan Ward, BCA’s general manager commercial vehicles, said: "Van dealers are finding it more difficult to churn their existing stock because retail sales have eased off; and when that happens they are not bidding as strongly in the halls or online for replacement vehicles. However, demand is far from flat, it's just not as strong as we saw earlier this year."
LCV prices are likely to return to normal level and are relatively better when compared to the figures of 2009, he added.
Recently, the BCA published a report which looked at how studying the used LCV market could help gain an insight into the state of small and medium-sized businesses.
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