Car dealers’ part-exchange vehicles reached record values at BCA’s auctions during January as the sector continues to compete for a wide range of vehicle stock to fill their forecourts.
CitNOW is a video technology and insight provider to 98% of the AM100, as well as 43 manufacturers, with its products supporting 3,898 retailers.
With 50% of motorists unable to pay a £500 repair bill and 83% a bill for £1,000, a solution that tackles this for dealers and consumers will have an impact.
BCA sold more used cars through its auctions in a single January week than at any other time in its history as it got off to a strong start in 2020.
The average value of a used car offered for sale at BCA’s auctions declined by 1.2% during December, but maintained the month’s fourth highest value on record.
Group 1 Automotive will put up to 20,000 vehicles through BCA's auctions annually under a new exclusive remarketing contract.
A seasonal downturn in used car values as the holidays failed to impact sales at BCA and strong demand delivered a “strong month for used car activity”.
The used car remarketing sector “continued to strengthen” during August as the average price of a vehicle sold via BCA rose 2.9% month-on-month.
BCA displayed a Toyota Yaris in a giant shopping bag outside London's Kings Cross train station as the consumer marketing for its cinch online retail platform gathered pace.
BCA's wholesale used car market data for July shows drops in value for all market segments, with dealer part-exchange cars among the most affected.
BCA’s new online used car classified business cinch has signed 22 dealer groups and car supermarkets within a few weeks of launching.
HR Owen sold more than £1 million worth of vehicles in a single sale at BCA Blackbushe this month, a new record for the dealer group.
BCA has launched its cinch consumer-facing online classified with the promise of helping car buyers find, buy and selling used cars.
The volatility of used car values “started to ease” with a 2.2% average rise to £9,463 in June, according to the monthly BCA Pulse report.
The board of BCA Marketplace has given its backing to a takeover bid from private equity firm TDR which values the group at £1.9 billion.
BCA chief operating officer Stuart Pearson has said that buoyant 2018 used car values may have created ‘unrealistic expectations’ among used car dealers after another year-on-year decline at its auctions.
Cazoo has announced it has signed a number of commercial partnership agreements with BCA to meet its vehicle logistics, refurbishment and disposal requirements.
A bank holiday-induced dip in consumer demand has been blamed for a 4.6% decline in the average price of a used car sold at auction during April in BCA’s monthly Pulse Report.
BCA has responded to “significant demand from buyers” in the South West and Wales by launching a new commercial vehicle sale at the Bridgwater remarketing centre in Somerset.
BCA and Jardine teamed up for the biggest single dealer sale ever staged at BCA as 405 vehicles were sold generating sale proceeds of £2.7m.
Automotive Management Live: Where franchised and independent dealers will find everything they need to know about operating a modern showroom and service and repair facility fit for the digital age.
When: November 12 2020
Where: Birmingham NEC
Find out what features are in this month's, and future, issues