Average values in the UK's light commercial vehicle (LCV) sector rose last month, the latest Pulse update from British Car Auctions (BCA) has revealed.

Values exceeded the £5,000 mark for the first time in August 2013 at £5,013. This represents a five per cent increase from July and is considerably higher than the corresponding month last year (£4,075).

Over the last 12 months, the average mileage for LCV models sold also increased from 78,167 in August 2012 to 80,621 this year.

Duncan Ward, BCA's general manager for commercial vehicles, commented: "The key factor driving the market is supply of good retail quality stock – or rather the lack of it – and this means there is plenty of competition for the best examples reaching the market."

He added average values have been substantially stronger than might have been expected over the summer months, especially as anecdotal evidence states many van retailers up and down the country have been relatively quiet.

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