BDC

BCA Pulse has found that the average price of used cars has remained steady over the course of May. These levels are currently at a record high for BCA and it looks as though professionally buyers are still bidding strongly on a wide range of different vehicles. BCA the British car auctioning business has been operating since 1946, formerly as Southern Counties Car Auctions in order to provide a marketplace to buy and sell used cars. Over around 70 years the company has managed to grow and now sell in excess of one million cars each year.

BCA is known for being the largest vehicle remarketing business throughout Europe. The company also works with fleet operators and OEMs and dealers in order to remain a prominent part of the vehicle supply chain in the UK. BAC also offers logistics and technology services for the new vehicles as well as refurbishments and restoration of logistics services in used cars. This business is an important part of the vehicle supply chain therefore the indication that car values are remaining high and stable is surely good news for the rest of the rest of the sector.

The figures that have been released for fleet, lease stock, and vehicles that have come from dealer part-exchanges have seen a slight drop month on month. In contrast to this the values for cars that are nearly-new have seen a slight increase. The values reached a record level of £9,090 was reached in April of this year, however May has seen this figure fall by £229, or 2.5% and now sits at £8,861. This is still a high figure and when looking at year on year values, there has been an average rise in values of £600 or 7.2%. It is thought that the increase in value has come from the consistent amount of demand for vehicles and the BCA providing a wide range of stock for buyers to choose from. The sector has also seen more stock that is being sold with lower age and mileage, which will appeal to a wider audience.

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BDC 301 February 2023