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.
Constellation Automotive’s £201.6 million offer for a 64.4% controlling stake in Marshall Motor Group has been described as a “done deal” after an ‘undertaking to accept’ was published via the London Stock Exchange.
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.
Constellation Automotive claims to have reached “unmatched scale” in automotive retail after expanding its car retail operations into Europe with the acquisition CarNext.
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.
Constellation Automotive’s cinch online car retail platform has strongly denied “far-fetched” rumours that it is lining up an approach to acquire used car supermarket giant Motorpoint.
Batchelors Motor Group has signed an exclusive remarketing partnership with BCA, offering up to 1,000 vehicles from BCA Leeds over the duration of the 12-month deal.
Manheim has secured a contract with Peter Vardy for the Scotland-based dealer group to remarket at least 4,000 unwanted vehicles annually through its auctions.
The average selling price of a used van has remained above £10,000 for the second consecutive month, at Manheim auctions.
Car retailer Parks Motor Group is at the centre of an £8 million Scottish Football sponsorship spat involving Rangers FC and cinch.
The average value of a used light commercial vehicle (LCV) has risen to almost £10,000 at BCA auctions as demand for vans continues to soar.
BCA has questioned “sensationalist” media coverage of used car price growth, arguing that wholesale values have only seen subtle changes.
British Car Auctions (BCA) is utilising robotic process automation (RPA) to help improve process handling and customer service.
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.
BCA could be set to face a legal case over hourly pay rates equating to as little as £2.30-per-hour for its delivery drivers.
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.
BCA’s cinch online car retail platform has partnered with car dealers across the UK to launch a used car subscription offering called cinchCare.
Light-commercial vehicles (LCVS) have achieved record values for the third consecutive month at BCA sales.
BCA has secured remarketing contracts with Glyn Hopkin, Group 1 Automotive, TrustFord and LeasePlan in the first few weeks of 2021.
Constellation Automotive Group’s cinch online used car retail platform has followed rival cazoo into Premier League football club sponsorship with a deal to become Tottenham Hotspur’s first shirt sleeve sponsor.
