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Enjoying a positive start to the year, January’s new LCV market was up 5.9% on the same point in January 2019. Overall, 23,557 new vehicles hit UK roads, with only Pickups and Vans between 2.5t – 3.5t recording a fall in registrations.
Breaking the month down by sectors reveals growth of 26.3% and 41.7% for Vans under 2.0 tonnes and Vans between 2.0-2.5 tonnes, whilst registrations for Pickups fell 9.7% and Vans between 2.5-3.5 tonnes declined by just 0.9%.
Top five LCV registrations
Combined with increasing demand for alternatively fuelled commercial vehicles, January’s growth is good news for the commercial vehicle sector. Pent-up demand for the latest WLTP compliant Euro 6d stock is resulting in more operators addressing the issues of climate change and air quality, by switching to cleaner vehicles to support their businesses.
January Auction Market Overview: Light Commercial Vehicles (LCV)
The New Year has seen the wholesale market start strongly, with sales up 95% on the typically quiet month of December and 0.4% up on January 2019. Driven by increased volume in the marketplace, all sectors recorded increased sales over the previous month.
LCV sales in January are on average 12.8 months older than twelve months ago, at 75.4 months but 1.3 months younger than last month. Additionally, average first-time conversion rates over the last 12 months improved 7.4% to 83.0%.
Average vehicle mileage stands at 81,718 miles, an increase of nearly 4,300 miles on December and 2,150 miles on January 2019. With the increase in mileage and vehicle age, it was no surprise to see the average sale price for the month fall. January’s average sale price was £150 lower than December and over £500 lower than at the same point last year.
Demand for Small Vans saw sales double in this sector during January, with the average sale price up by £25 on December. Tidy examples of Berlingo, Transit Connect, Combo, Doblo and Corsavan have all held their value during the month, as have utility versions of Caddy.
The popular Medium Van sector saw sales increase by over 45%, but returned a £60 reduction in the average sales price. Good levels of demand remain for Transit Custom, Trafic, Vivaro and Transporter when mileage and condition are appropriate for the vehicle age. The Dispatch, Expert and Proace have also proved popular, as has utility versions of Primastar. It was another strong month for crew vans, with the best continuing to sell well.
Sold volumes of Large Vans increased by nearly 60% in January, however, average sales prices reduced by £100. Across this sector, demand is for anything straight and tidy or sensibly priced. The latest shape Transit and Sprinter are proving particularly popular together with later plate Relay, Boxer and Ducato and Iveco Daily.
Sales of 4×4 Pickups increased by nearly 45% in January, with average prices increasing by £100. Higher specification models with automatic gearboxes fared best, with the Ranger Wildtrak, Hilux Invincible, L200 Barbarian and Navara Tekna all attracting buyers. Older examples of D-Max, Ranger, Navara, Hilux and L200 continued to attract buyers working to tighter budgets. The Fullback still struggles to gain acceptance, whilst rare sightings of the 2.3-litre X-Class have underperformed.