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BCA reports steady trading through Lockdown 2 as values drop 2%

A BCA online motor auction

Average used car values in November at BCA remained 3.5% up year-on-year despite a 2% fall (£166) from October.

BCA said trading was steady and there were good levels of demand, despite England's 'Lockdown 2' coronavirus restrictions.

The remarketing group said buying engagement remained strong, with more than 5,000 bidders logging in at most sales days in BCA's online motor auction programme.

BCA UK Remarketing chief operating officer Stuart Pearson said: "We suggested last month that the onset of Lockdown 2 could cause some short-term volatility and the early days of November reflected this.

"However, BCA continued to conduct business safely and within the government guidelines and average used car values and volumes held up well during November.

“The wider used vehicle sector was significantly better prepared for the second lockdown than the first, and customers felt confident to bid strongly for the right stock.”

Pearson said BCA's online-only sales programme has continued to drive efficiencies and support its customers. Earlier this year it launched a new Retail Ready used car stocking platform.

“The used car sector has shown a resilience and strength in depth throughout the period of the pandemic that sees it finish the year in significantly better shape than many expected.

"While this may have surprised those operating outside of the automotive industry, it highlights the entrepreneurial spirit, agility and relentless drive that keeps the used car sector constantly moving forwards,” Pearson said.

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