Used car sales strong during February at BCA
Used car sales remained high after values slipped from £8,042 in January to £7,523 in February and into March on BCA’s online sales platform.
The fall has been attributed to a wider mix of vehicles, with demand strong for older, higher mileage vehicles.
Meanwhile, sold volumes in February matched those of January despite three fewer selling days in the month.
BCA COO Stuart Pearson said: “BCA’s online sales have been fuelled by some exceptionally strong buyer engagement during the first three months of this year. There’s a definite feeling of confidence in the wholesale market and with BCA’s weekly entries being significantly ahead of the same period last year, it is great to see the market absorb the volume and come back for more.
“It is also interesting to note that we can already see that new car activity in March has lifted significantly and many dealers have worked hard to sift through part-exchanges quickly, with the strong market conditions helping to return cash quickly.”
Pearson continued: “While EVs continue to be an area of the market that constantly attracts negative media attention, the facts are that by the end of the first quarter, BCA will have sold more than 12,000 used EVs and seen the number of buyers lift by 60% on the same period last year.
“While EVs performance against guide price can often be volatile, we are seeing a very sensible approach from most sellers that is driving strong demand and is creating good retail returns, fully supported by BCA’s new EV grading process.”
