BCA used car auctions delivered average sales entries of over 6,000 vehicles in August as average sold values continued to decline amid “stable market conditions”.
As UK residents begin to adapt to the “rule of six” COVID-19 measures from today (September 14), BCA reported its record daily online sales offering for last month.
Used car values exceeded £8,000 for the third month in a row, it said, with conversion rates typically exceeding 85% online.
BCA’s chief operating officer for UK Remarketing, Stuart Pearson, said: “The stable market conditions continued in August, and there was no let-up in activity as we approached the plate change on 1st September.
“BCA has seen improving levels of supply reaching the marketplace throughout the period of the pandemic with well-matched demand for stock from our buyer base.
“The marketplace is operating very efficiently, and this is good news for all professional operators in the used vehicle sector.”
BCA offered a record 7,400 vehicles to market in a packed programme of online sales on August 19, the highest volume of vehicles ever offered in online sales in one day.
Pearson added: “Anecdotally, many dealers are telling us that their stock churn has improved significantly, with many holding lower volumes of stock but still selling as many vehicles as they might have expected pre-COVID-19.
“We continue to enhance our online auction programme to meet the changing needs of our buyers in the post-COVID market, utilising the connectivity and efficiency across the BCA Group to provide more of the right vehicles to the marketplace at the right time.”
Last week Cox Automotive’s remarketing division, Manheim, revealed that it would be allowing traders to complete car viewings prior to sales at its physical auctions’ sites, but said that visits must be completed on an appointment only basis.
Shoreham Vehicle Auctions (SVA) welcomed physical buyers back to socially-distanced auction halls a fortnight ago after preparing its locations to limit COVID-19 transmission.
This followed the lead set by Aston Barclay, which has allowed vehicle viewing by appointment since June.
However, it said at the time that, despite the changed policies, its auction programme would continue in its purely online format.
BCA COO, Pearson added: “Currently all sales remain online only and we’re keeping close to the latest government guidance in order to protect our people, customers and suppliers.
“We have consistently released updates to the BCA Buyer app, introducing new functionality that makes it even easier for our customers to interact with our online auction platforms.
“BCA also introduced a new Click and Collect service to arrange vehicle collection nationwide, safely, socially distanced and in line with current COVID-19 guidance.
“Everything is arranged online, saving time and improving efficiency and BCA ensures vehicles are sanitised and ready for collection on time.”