Trading started strongly for BCA in 2020, as the company offered and sold a record number of vehicles in January, with digital sales also increasing by 23% year-on-year.
The latest Pulse report found that average used car values returned to more typical levels in January, following on from the seasonally affected values recorded in December.
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The average value of cars sold at BCA increased by £364 year-on-year to £9,840 in January 2020. Average year-on-year values increased across all sectors at BCA in January 2020, with dealer part-exchange values rising to the highest point on record.
Fleet and lease vehicles reached the second-highest average value ever recorded, clocking £12,331 in January. Demand for fleet and lease vehicles has risen consistently since September last year, with the last five months representing the five highest monthly values recorded.
Dealer part-exchange values at BCA rose to record levels for the second month running during January 2020, increasing by £76 (2.5%) over the month to reach £5,321. Average values for part-exchange vehicles were up by £281 (5.5%) compared to the same month last year, with stock showing a slightly lower profile of age and mileage.
BCA attributes the increased year-on-year values on both the greater selection of vehicles available and the increased levels of demand in January. Fleet and lease and dealer P/X values rose by 7.1% and 5.5% respectively, while nearly-new values jumped by 4.5%.
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By GlobalData“January was a strong month across BCA’s network with record volumes sold and strong buyer engagement across the network for both physical and digital sales,” said Stuart Pearson, chief operating officer at BCA. “Dealer customers are reporting positive levels of retail activity and this is driving demand in the wholesale sector.
“Online trading played a significant role during January with sold volumes rising by a significant 23% compared to January last year. The BCA Buyer app is driving digital engagement. Over 50% of BCA’s active buyer base have used the app since it launched a year ago, underlining that BCA is leading the digital sales market with a choice of channels offering an unrivalled selection of stock.”
