BCA reports rising used car values and volumes

Date:

14 October 2020


  |  

Author: Sean Keywood





Used car values and volumes both rose during September, according to auction firm BCA.




It says the average sale value was £8,363, a 3.9% increase month-on-month, while online sold volumes were up by 31% to reach the highest point on record.




Conversion rates also remained high, typically exceeding 85%.




BCA says overall buyer demand for stock remained strong, with an increasing focus on stock that is ready to take away and retail immediately.

BCA COO for UK remarketing Stuart Pearson said: “The used car market saw buying activity and demand increase in September with BCA selling record volumes online for the fifth month running.  

“We also saw record numbers of customers purchasing online in September, with numbers of customers for both online auctions and fixed price purchase continuing to rise. 

“It is this strength in depth in the used

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BCA used car values rise 6.9% as volumes rise in strong September

BCA’s average used car sale value at auction remained above £8,000 for a fourth consecutive month after values rose by 6.9% during strong September trading.

The remarketing giant recorded average used car values of £8,363 last month, with online sold volumes rising 31% during September to reach record levels as conversion rates typically exceeded 85%.

BCA average used car sales values, 2020It was the fifth consecutive month that BCA had sold record numbers of vehicles online, with daily online weekday sales averaging over 6,000 units.  

BCA’s chief operating officer for UK Remarketing, Stuart Pearson, said: “The used car market saw buying activity and demand increase in September with BCA selling record volumes online for the fifth month running. 

Stuart Pearson COO BCA remarketing “We also saw record numbers of customers purchasing online in September, with numbers of customers for both online auctions and fixed price purchase continuing to rise.” 

Despite reports of supply shortages driving high used car values, Pearson claimed

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Smooth drive likely for auto sales in September; tractors, PVs, 2Ws volumes to rise



a car is lined up on the street: Smooth drive likely for auto sales in September; tractors, PVs, 2Ws volumes to rise


© Nishant Kumar
Smooth drive likely for auto sales in September; tractors, PVs, 2Ws volumes to rise

Auto sales may continue to show an uptrend in September, especially in tractors, passenger vehicles (PVs) and two-wheelers (2Ws), brokerages and industry observers have said.

Tractors, PVs and 2Ws volumes may show an uptick supported by improving retail and inventory build-up with dealers before the festival period.

The recovery in the automobile industry has been faster than expected. Axis Securities highlighted that the industry seems to be recovering from the coronavirus blow on the back of the robust rural economy, pent-up demand, a shift in preference for personal mobility over shared mobility and the need to maintain distance.

“The industry volumes are showing a healthy sequential recovery led by tractors and 2Ws and followed by PVs and CVs. Based on our recent channel checks, the inquiry levels are increasing and the dealers are

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