Prices remain firm through October
Average used car values at BCA remained above £8,000 in October despite the introduction of local lockdowns.
It recorded average used car values of £8,152. Conversion rates typically exceeded 80% across its online sales programme, with over 5,000 bidders logging in most sale days. Average daily sale entry remained strong with 6,000-7,000 units being offered daily during the month.
However, the announcement of the second lockdown came too late in the month to influence October’s figures.
BCA COO UK remarketing Stuart Pearson said: “October is typically the time of year when we start to see a shift in demand, and there was a feeling throughout the month that trading was moving towards a more seasonal pattern.
“After the pent-up demand seen over the previous five months, it was not unexpected to see the market start to gravitate towards more seasonal behaviour. However, with the onset of lockdown 2.0, we could see some short-term volatility.”
