Auction values remain strong
Used car values stabilised at BCA in July, with the rising supply of stock meeting increasing demand.
Data from BCA Valuations found that values were averaged £8,517 over the month, down by £48 (0.6%) compared to June, with sold volumes rising by more than 30%. Conversion rates remain strong and the online sector-focussed channels are frequently seeing up to 1,500 buyers joining individual events.
BCA offered record numbers of vehicles online in July, with daily sales entries typically exceeding 5,500 and often rising above 6,000.
BCA COO UK remarketing Stuart Pearson said: “Momentum continued into July and BCA has expanded its online remarketing programme significantly to meet the demand, running 20 sales in parallel at any one time, with auctioneers and clerks, vendor representatives and buyers operating remotely and safely socially distanced.”
