Online LCV sales race ahead, says BCA
The firm adds that figures for 2011 so far suggest the percentage of LCV sales to online bidders will top 30% by the end of this year. And BCA has also seen LCV sales numbers climb in its daily Bid Now, Buy Now and e-Auction online sales.
Last year, nearly 6,000 individual professional trade buyers logged on to buy LCVs at BCA. Nearly £150 was added to the value of every vehicle sold to Live Online bidders and an additional £6 million generated in total value.
The highest percentage of commercial vehicles sold online was Double Cab Pick-Ups, with 37% being purchased by Live Online buyers. Mini-buses, Lutons and station wagons also sold in relatively high percentages to online bidders.
BCA's Duncan Ward commented: 'We have some buyers who buy almost exclusively online, particularly when they are searching for more specialist commercial vehicles. If current levels of online activity are maintained, the number of LCVs sold online at BCA could well represent a third of the total volume this year.
'The message is clear – Live Online generates valuable additional buying power for commercial vehicle sellers.'
Ward's comments follow the recent Vehicle Remarketing Association (VRA) Remarketing Seminar, where speakers said that online auctions are recognised as a growing area.
However, the consensus was that they would only account for 25% of sales over the next five years. It was also said that the services have come a long way, but are still seen as complementing physical auctions rather than being a replacement.For more of the latest industry news, click here.