Used car trading ‘exceptionally competitive’ ahead of showroom re-openings

Business Request

2021/08/16

Angola

Used car auctions across the UK have reported ‘exceptionally competitive’ trading during March as car dealers prepared for a bumper period of sales following this week’s reopening of showrooms.

Shoreham Vehicle Auctions’ (SVA) managing director, Alex Wright, said that used car values had risen in recent months as the end of COVID-19 ‘Lockdown 3’ loomed large, adding that car retailers were now “itching to get back” into auction halls and replenish stock.

BCA’s chief operating officer, Stuart Pearson, meanwhile, revealed that sold prices had increased significantly in March as dealers stocked-up in anticipation of “a potentially significant uptick in retail demand.”
Earlier this month Cap HPI reported that used car values had reached a “tipping point” in March with prices rising for the first time in five months.used car trading news https://www.yesauto.co.uk/
Its valuations experts said that last month had brought a 0.1% value increase at the crucial three-year point following a series of drops at an average of 2%.
Average used car values at BCA averaged £8,039 during March as trading continued to be exceptionally competitive and record numbers of buyers joined BCA’s online sales programme, the remarketing giant said this week.

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