BCA has released its Pulse Report that shows that average car values returned to more typical values in January, following the seasonally affected values recorded during December. BCA achieved record levels on the sold volumes, with buyer demand being exceptional throughout the month.
The buyer demand rose significantly in January, with the first week’s sales record being smashed by over 10% in the second week. BCA sold 25,500 vehicles across the network with numerous centres around the 24 strong UK network reporting record trading.
“January was an exceptional month across BCA’s network as we handled and sold record volumes of vehicles. The used car sector certainly started the year strongly, with competitive bidding across the board from high value prestige stock to older, higher mileage budget vehicles. The weather had no impact on trading, with buyers switching to our Live Online platform if travel was difficult,” explained Stuart Pearson, BCA MD UK Remarketing.
In the fleet and lease sector, the January figure shows £10,513, which represents a small decline of £91 compared to December. The retained value against original MRP improved to 42.09% in January, while year on year values were up by £350, as average mileage continued to reduce.
Moreover, the average dealer part exchange values went down by only £70 in January, to £4,703. The year on year values are ahead by £308, equivalent to a 4.6% growth. For nearly new vehicle, the values worse to their highest point since December 2016, up by £647 to £19,680. All these values reflect the quality of the business BCA has won and retained in this sector.
Stuart said that “the competition for the buyers’ wallet remains intense and BCA is launching a number of digital initiatives and service enhancements that will firmly put the customer at the heart of our business activities over the coming months.”
“BCA expects to see strong demand over the coming week as we approach the March plate change with a healthy sales program in place to support this,” he concluded.
