The used automobile market confirmed sturdy efficiency throughout Could, with British Automotive Auctions (BCA) reporting robust purchaser engagement, constant on-line exercise, and regular values, even because the sector entered a historically quieter interval.
Used automobile values at BCA averaged £7,510 for the month, down £282 (3.6%) month-on-month, however nonetheless £134 (1.8%) greater year-on-year. Efficiency in opposition to value guides additionally improved, underlining sustained demand throughout varied automobile segments.
BCA’s on-line gross sales programme has continued to defy seasonal slowdowns, with robust conversion charges and rising purchaser numbers—even throughout faculty holidays and financial institution vacation intervals. The corporate’s Bid Now/Purchase Now gross sales channels additionally noticed elevated exercise, providing immediate fixed-price buying for fresh-to-market inventory out there 24/7.
Stuart Pearson, chief working officer at BCA, commenting, mentioned: “We’re delighted to report one other robust month for the used automobile sector in Could with values and volumes properly forward of the identical interval in 2024. During the last two months, purchaser engagement has remained glorious and inventory churn displays a wholesome market.”
Retailers are going through continued challenges sourcing prime 3-5-year-old inventory, driving a noticeable enhance in bidding exercise for this age group. In response, many consumers have diversified their sourcing methods, increasing past typical product profiles – an method that has created new income alternatives for some sellers.
Opposite to considerations surrounding electrical autos (EVs), BCA famous strong demand for used EVs. Curiosity continues to develop, aided by the corporate’s Battery Well being Grading system, which provides consumers a transparent, clear view of battery situation, backed by an in depth report back to help retail gross sales.
Pearson added: “We’re seeing constant demand, seven days every week, and the notion of prime time bidding has all however disappeared. Whether or not via reside auctions or our Bid Now channel, BCA affords sourcing options 24/7, one year a yr.”
Trying forward, Pearson confirmed a constructive begin to June, with volumes already forward of the identical interval in 2024. “In what’s historically one of many hardest quarters for used automobiles, the present market is considerably extra sturdy than we’ve seen in earlier years,” he mentioned.
