Limited supplies of zero-emission electric vans is creating “volatility” in a light commercial vehicle (LCV) sector experiencing a ramp-up in demand, BCA has said.
BCA has reported "encouraging signs" from a used van market which experienced a 1.8% (£177) decline in average wholesale values during September.
The average cost of a used van or LCV sold in BCA's auctions during July was £10,220, a 4.2% rise month on month, as used car costs rose by 2.9% to £9,464.
Used car remarketing giant BCA has been fined £1.1 million and ordered to pay £97,000 after a car buyer was crushed by a Porsche at its Paddock Wood auction site in Kent.
BCA has suggested that high used car valuations could prove a “safety net” for car retailers as Russia’s invasion of the Ukraine compound cost of living concerns to impact consumer confidence.
Volvo Car UK has launched a new used car sales platform that will sell its “newest” vehicle stock direct to online car buyers.
Cinch, BCA and Webuyanycar owner Constellation Group has followed up its move to acquire Marshall Motor Holdings with the purchase of a 19.9% stake in Lookers.
Used car values were up 13.2% year-on-year in December as BCA’s programme of festive auctions delivered a near-25% sales boost during the last week of 2021.
Constellation Automotive’s private equity fund owner TDR Capital is set to dispose of its LeasePlan vehicle leasing business after securing a €4.9 billion (£4.1bn) sale.
Marshall Motor Group’s board has highlighted the “responsibilities of ownership of MMH” in a statement recommending the acceptance of Constellation Automotive’ s £201.6 million takeover offer.
A stabilising of values in the used van market in recent months may highlight “what’s to come” for the used car sector, according to remarketing giant BCA.
Used car values remained at their second highest level ever in a “frenzied” 2021 market at BCA’s auction in October, despite showing signs of “easing back” in the month’s latter stages.
Used car values are likely to rise to “another new level that once didn’t seem possible” according to BCA chief operating officer Stuart Pearson.
We Buy Any Car has been fined £200,000 by the Information Commissioner's Office after sending 191 million emails and 3.6 million “nuisance texts”.
BCA's cinch online car retail platform has announced a new sponsorship deal with American Football's National Football League (NFL).
Used van values continue to climb, with average prices passing the £10,000 mark for the first time in July, according to the latest data from BCA.
British Car Auctions (BCA) is utilising robotic process automation (RPA) to help improve process handling and customer service.
Constellation Automotive Group will expand the used car stocking and preparation capacity for BCA and cinch following the £80 million acquisition of Rockingham Motor Speedway.
BCA has said that it is “confident” of the legality of its operating model and commercial relationship with its self-employed contractors – suggesting the model delivers mutually beneficial flexibility.
Cinch has attracted £1 billion in new investment to continue its push to online car retail growth alongside the likes of start-up rivals Cazoo and Carzam.
