BCA reports strong quarterly results
BCA has reported a strong first quarter for the used car sector, as average values rose for the third month running, sold volumes continued to increase and average weekly used car values reached their highest point so far this year.
Values averaged £8,939 at BCA in March 2023, up by £399 or 4.7% compared to February 2023, as sold volumes increased for the fourth month in a row and performance against guide price remained strong.
Buyer engagement remained high from both the franchised and non-franchised sectors across the range of product on offer in BCA’s online sales programme.
The first quarter of 2023 remained volatile for EV pricing, although many models levelled out towards the end of the period and demand has improved, in spite of increased supply.
BCA UK COO Stuart Pearson said: “There’s definitely been a feeling of seasonality for the used car sector since Christmas which has helped to deliver a very positive first quarter performance with rising demand and improving values. Given the economic background and continuing pressures on household budgets, it has been a very encouraging start to 2023 across the used car market and one that has, perhaps, surprised some commentators.
“Despite the significant interruptions to new car supply that went hand-in-hand with the initial Covid-19 lockdown three years ago, used volumes have risen this year and we are seeing an improving mix of inventory hitting the market. Demand for any vehicle in good condition remains intense and we continue to see exceptional values across most value sectors throughout our seven-day online selling programme.”
