8:41 am, April 24, 2021
Auction prices were on average up nearly 16 per cent at BCA as showrooms reopened last week, with daily online attendance nearing 5,000 users.
The latest figures from BCA revealed values were up on average values rose by £1,223 (15.8 per cent) in the week from April 12.
Increased demand came from dealerships attempting to stock up as customers were once again allowed to enter showrooms.
Conversion rates also improved according to the auction house, and sold volumes jumped by 17.0 per cent.
Performance against guide values accelerated, rising by 1.7 percentage points to 101.9 per cent across the board.
Values for stock from corporate sellers reached its highest point this year, improving by £269 (2.2 per cent) to reach £12,337.
Meanwhile, dealer part-exchange stock rose in value by £571 (10.0 per cent), also reaching the highest average weekly value this year.
Stuart Pearson COO at BCA UK said: ‘The lifting of some Lockdown restrictions, the continued good news about the vaccination rollout and the cautiously improving economic outlook has generated a lot of positivity in the used vehicle sector.’
He commented that ‘there has been a noticeable increase in confidence and demand, demonstrated by the numbers of joiners, watchers and bidders to our online channels’.
Pearson added: ‘Our sales continue to be exclusively online, giving BCA customers access to the widest choice of stock in the wholesale market, while ensuring a safe environment for buyers, vendors, suppliers and our people alike.
‘BCA remains committed to creating the most efficient marketplace for our customers and will continue to deliver innovation into the wholesale buying process along with the widest choice of vehicles and buying channels available.’
