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Sales of used CVs rise 13% in month

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There was an increase in the number of used commercial vehicles (CVs) sold in February, new figures have shown.

A report by British Car Auctions (BCA) found that sold CV volumes surged by nearly 13% last month.

However, average values saw a fall of 1.8%, or £76, in the month - a development that will have been noted by dealerships and car insurance companies.

Duncan Ward, general manager of commercial vehicles at BCA, said: "Demand held up well in February following the strong start to the year. Overall the market seemed pretty confident, although there were patches when buyers seemed to turn off.

"There are still issues relating to poor stock mix resulting from an influx of vans from business failures and liquidations, often in poor condition or non-retail colours and with a low specification and that is likely to continue in the months ahead."

Average values rose by nearly 50% between December and January, with monthly values staying between £4,000 and £4,200 since summer 2010.

Values in the part-exchange sector saw a hike of 4.6%, or £113, to reach £2,565 - the highest since April 2010.

Nearly-new values fell by £60 to £10,344 in February.

© Press Association 2011