Used car sold volumes back to pre-pandemic levels
Remarketing activity at BCA saw a significant increase in March, with record numbers of buyers joined its online sales programme and sold volumes returning to pre-pandemic levels.
Used car values at BCA averaged £8,039 during March 2021, down slightly on the £8,212 seen in February, and maintaining the steady price performance the business reported over recent months. Sold volumes increased significantly compared to January and February; BCA said they’re now comparable to pre-pandemic levels, with an expectation that activity is likely to increase over the coming weeks.
Car supermarkets, franchise and independent dealers have been competing strongly for stock to ensure showrooms and forecourts are well stocked to meet the expected rise in retail demand as lockdown eases.
Bidder numbers were at the highest point since the pandemic started, with average daily online attendance numbers climbing towards 5,000 during March, supported by BCA’s work to continually augment its digital experience.
Stuart Pearson, COO BCA UK, commented: “March 2021 saw a significant increase in remarketing activity, with sold volumes and buyer numbers rising and competitive bidding across the BCA sales programme. Anecdotally, there was an expectation amongst professional buyers that the initial relaxing of lockdown restrictions would generate a potentially significant uptick in retail demand.”