Shoreham Vehicle Auctions (SVA) has provided the industry with proof of how buoyant the used LCV market is by selling the same 67-plate Renault Trafic short wheelbase van twice in 24 months. The white van fitted with a 125bhp diesel engine remarkably appreciated by £2,600 during that time, an increase of 28%.
SVA sold the van at auction in April 2019 and in good condition for £9,000 with approximately 30,000 miles on the clock. The same van was re-sold by SVA in May 2021 still in good condition for £11,600 with 53,000 miles on the clock, highlighting the high demand in the market for used LCVs.
The pandemic has had a huge impact on the used LCV market with a shortage of stock causing a huge spike in demand. High levels of demand from parcel delivery companies and SMEs for used vans has fuelled this demand and prices have rocketed.
“The pandemic has hugely affected the LCV market and as you can see our Renault Trafic van was deemed to be worth more money with a higher mileage on the clock and 24 months older. With the recent semiconductor shortage and the uncertainty still surrounding the lockdown, the trend of demand exceeding supply will continue throughout 2021,” said MD Alex Wright, Shoreham Vehicle Auctions.