Used LCV prices fell in Q2 by -1.6% as the market remains stable according to Aston Barclay’s used market report.
However they remain 59.3% higher than pre-pandemic levels report Aston Barclay.
Prices fell by £291 to £7,847 in Q2 from £8,138 in Q1 with the average age falling from 70 to 65 months and mileage increasing from 106,000 to 107,000 miles.
Between Q3 2021 and Q2 2022 prices fell by just -5.6% (£474) and prices are still 59.3% (£2,923) higher than Q1 2020 (£4,923), prior to the start of the Covid-19 pandemic.
Prices of used double-cab pick-ups also fell in Q2 by £745 to £14,145, the largest quarterly price fall in two years.
“The LCV sector shares the same new vehicle production challenges as the car industry. Leasing companies are continually extending contracts due to the lack of new LCV production which is in turn starving the used market of three-to-five-year-old stock,” said Geoff Flood, Aston Barclay’s light commercial vehicle sales manager.
“The problem shows no sign of improving which is why despite the continued price falls the industry’s stock shortage is keeping the sector stable,” he added.