BCA has entered into consultation with staff over business restructure plans that involve the closure of its vehicle preparation centre closure at Upper Heyford.
Record trading between Christmas and the start of the new year demonstrated that car retailers were keen to get a “good head start” for strong January trading, according to BCA.
Used LCV prices increased in November, as demand grew steadily for vehicles to service the online shopping and home delivery sector in the run-up to Christmas.
A decline in average used light commercial vehicle (LCV) wholesale values of just £15 in October suggests that “demand remains well balanced against supply”, according to BCA.
BCA has reported "encouraging signs" from a used van market which experienced a 1.8% (£177) decline in average wholesale values during September.
BCA has said that used vehicle process will “remain very robust for some time to come” after wholesale used car values rose 2.9% to £9,197 in September.
A growing divide in the used car sector is seeing values decline among older vehicles in poorer condition as retailers remain ‘laser focussed’ on fast selling stock, BCA has said.
Used car remarketing giant BCA is consulting staff at its Derby, Peterborough and Sandwich facilities ahead of a planned restructure following a review of the “scale and capability” of its UK operations.
Wholesale used car values rose by 8.8% month-on-month at BCA auctions across the UK during June as the remarketing giant recorded its first price growth of 2022.
In a used car market starved of supply vehicle acquisition has become the boom industry, with retailers launching their own car buying platforms to rival third-party providers.
Wholesale used car prices have declined for a fourth successive month at BCA remarketing centres across the UK as chief operating officer Stuart Pearson asserts “we have seen the market soften”.
BCA and cinch owner Constellation Automotive Group has received the regulatory approvals required from the Financial Conduct Authority (FCA) to complete its acquisition of Marshall Motor Holdings.
Prices for used LCVs at auction have slipped below guide estimates as greater levels of stock enter the market.
Wholesale used car values declined by 5.9% in March as external economic pressures, the cost-of-living squeeze and the ramifications of the conflict in Ukraine ensured a “tougher” market for retailers.
Used vans continued to achieve near-record prices at BCA auctions last month, but external economic pressures are starting to alter buyer behavior.
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.
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.
BCA is hosting regional apprenticeship open days to meet potential candidates interested in embarking on a career as a large goods vehicle (LGV) Driver.
BCA said that the wholesale used car market showed signs of moving towards a “more stable” footing after average sold values declined by 19% in two months.
Used LCV values rose during November at BCA as demand grew steadily for vehicles to service the online and home delivery sector in the run-up to Christmas.
