Fleet News

Auction activity higher than expected

Bidding in the auctions exceeded expectations last month, with overall sales volumes increasing and average selling prices improving over last year.

However, BCA is warning against complacency.

While the auctioneer said corporate vendors have enjoyed good results, with both cars and commercials in demand, it says sellers must be cautious of the “underlying softness in the market”.

However, volumes are expected to rise again significantly in the immediate period after the plate-change on March 1.

“The start to the year has been strong and we have recorded some exceptional results over the past few weeks, but there is no room for complacency,” said BCA’s communications director, Tony Gannon.

“The new plate on March 1 is likely to stimulate additional volumes of business from fleet, lease and dealer sources.

"But even with all this current activity there is an underlying softness in demand and dealers are reflecting this by showing less interest in poorly presented cars and vans.”

Mr Gannon added that BCA supports the recent statement by the Society of Motor Auctions, which highlighted the importance for vendors to present and price vehicles correctly as volumes rise.

“Attention to detail will be critical if sellers are to maximise the value in the vehicles they sell,” he said.

“It is crucial to set reserve values that accurately reflect the condition, history, mileage, specification and current market conditions.”
 

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