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Demand for light vans on the up

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Figures show demand for light vans continued to rise for a fourth consecutive month suggesting confidence may be returning to the business marketplace.

Insurers may be seeing an increase in van insurance policies being taken out as buyers return to the used LCV market.

The latest report from leading vehicle auction company, British Car Auctions (BCA), shows that despite a small downturn in the average prices achieved in April, which fell to £3,473, values are still well ahead of the £2,772 recorded in December 2008.

Duncan Ward, of British Car Auctions, said: "Having spent most of 2008 in the doldrums, there is a lot more confidence in the used LCV market in 2009.

"And that is reflected in stronger bidding, higher conversions and prices that have improved since the turn of the year."

The BCA is now confident that demand for light vans will continue to improve through 2009 and this greater interest will be reflected in the second quarter figures.

Mr Ward added: "The rise in average values has been good news for professional vendors at auction and obviously reflects an active retail market."

© Press Association 2009