THE used market in 2013 has been typified by intense competition for the best retail-ready used cars. The general shortage of quality stock continued this summer as demand from professional buyers remained relatively strong despite the market entering a traditionally slow time of year.
This shortage of stock is a long-term trend with its roots in the onset of the recession in 2008. Lower new car sales have resulted in a constrained supply of ‘first time’ used cars in the market and an ageing car parc nationally. Dealers have had to focus on older used cars to maintain their market penetration and profitability.
Sourcing good retail stock has been a challenge for professional buyers in recent months and dealers have told us they have struggled to maintain supply to meet the needs of their retail customers. With this in mind, BCA launched a digital sales programme last month. ‘BCA 5 to 9’ features vehicles selected daily from our 19 remarketing centres nationwide and offered exclusively in an overnight online sale via bca.co.uk/5to9. We call it our ‘overnight convenience store’ for car dealers!
Sales start at 5pm each day, when buyers can review and buy vehicles, with the sales programme closing at 9am the following day. All vehicles on BCA 5 to 9 are offered with a fixed price and a simple ‘click to buy’ process, making it a great way to access new stock every night. BCA data shows that most professional buyers research the stock they want to buy via BCA Auction View in the evening and the new 5 to 9 platform means they can buy as they browse.
The critical factor is availability and affordability. BCA has signed 25 major vendors to the 5 to 9 sales programme, with new seller customers being added daily, so there is a constant supply of fresh stock to tempt buyers.
BCA will offer several hundred vehicles in each overnight 5 to 9 sale, with a high turnover of stock and including vehicles fresh to the market.