BCA records strong marketplace in May

BCA said it saw a ‘exceptionally strong performance’ with record number of customers buying online and sold volumes rising ‘significantly’.

The remarketing giant also said it saw average values outstrip market expectations and the highest value achieved post-pandemic for a vehicle sold online.

Used car values at BCA averaged £8,408 in May as buyer demand continued to drive the market.

Sold volumes increased by nearly 8% month-on-month (MoM) and price performance rose sharply across the board.

Online buyer numbers reached their highest point as trade activity continued to increase, with over 10,000 different customers participating in BCA’s online sales in one week for the first time on record.

BCA said some prestige, luxury and sporting stock achieved over six figure sums during the month.

A 18/68 registered Lamborghini Aventador 6.5 LP 740-4 S ISR Roadster achieved the highest value at BCA this year, selling for £245,500.

Rockingham Motor Speedway has been acquired by remarketing and car retail giant Constellation Automotive Group, which owns BCA, WeBuyAnyCar and Cinch, for £80 million.

BCA also staged the first online sales from the new BCA Bristol remarketing centre during the month.

The newly opened 65-acre mega-centre has capacity to store over 10,000 vehicles on the ground and plans to handle over 120,000 vehicles per annum.

BCA said over the coming weeks BCA Bristol will be offering thousands of vehicles via BCA Online and the BCA Buyer app.

Stuart Pearson chief operating officer at BCA UK, said: “Despite some market commentators suggesting there could be shortages of used car stock, BCA continued to set the pace across the industry, with rising volumes sold, record numbers of buyers online and a record value week achieved in May.

“With BCA Valuations providing detailed insight into how the market is performing, we have our finger on the pulse of the remarketing sector and can track shifts in demand as they happen.

"We continue to see high levels of confidence from professional buyers and exceptionally competitive bidding across the range of stock on offer from BCA.

“BCA sales continue to be exclusively online, giving customers access to the widest choice of stock in the wholesale market, while ensuring a safe environment for buyers, vendors, suppliers and our people alike.”

Our new Bristol centre has really hit the ground running and we’ve seen a number of new buyers from South West, drawn by the attractive mix of stock on offer. 

"We’re also recruiting heavily to support the accelerated growth of the centre and we expect sales and production activity to ramp up significantly over the forthcoming weeks.”

Lex Autolease and Black Horse have recently agreed a new five-year remarketing contract with BCA, renewing the original deal struck five years ago.