Cazoo has acquired independent vehicle reconditioning and storage specialists, Smart Fleet Solutions (SFS), for an undisclosed sum.
The UK’s used car market fell by 14.9% in 2020, according to new figures released by the Society of Motor Manufacturers and Traders (SMMT).
New car registrations were down almost 30% due to reduced demand and severely impacted new car supply - used car sales were also down.
Used stock from the Reflex Vehicle Hire fleet will be sold to traders via a new online auction platform developed in-house.
Shoreham Vehicle Auctions (SVA) says it’s important for vendors to keep physical buyer options open, otherwise they risk compromising bids and used car prices.
The facility will operate 24/7, delivering a full range of BCA’s services, including defleet and logistics, vehicle remarketing and imaging.
After two consecutive quarters of decline, the UK’s used car market increased by 4.4% in Q3, according to new data from the SMMT.
BCA says that it will be business as usual, with sales remaining online and extended opening hours for vehicle collections, during lockdown.
BCA continues to extend its online sales programme, with the introduction of a new weekly evening sales event.
A degree of stability seems to be returning to the UK used car auction market, finds forecast editor at Glass's, Robert Redman.
Rupert Pontin, director of insight at Cazana provides the monthly pricing insight for September.
BCA is reporting that for the fourth consecutive month average used car values remained above £8,000, with sold volumes also rising.
Arval UK is launching a new consumer-focussed used car website just as LeasePlan confirms it has closed its UK CarNext operation.
The remarketing sector says the ongoing impact of Covid-19 and uncertainty around Brexit are making planning beyond the short term "almost impossible".
BCA is extending its selling programme with the introduction of a new online sales programme starting tomorrow (Saturday, September at 19) at 9.30am.
Average used car values exceeded £8,000 for the third month in a row in August, with sold volumes continuing to rise, up by 3.9% over the month, reports BCA.
The latest from the fleet industry, including Indicata's latest Market Watch insights report, Lightfoot backs National Road Victim Month and Mina Energy partners with Mitie.
Rupert Pontin, director of insight at Cazana
BCA has released valuation insight covering the post-lockdown period highlighting that used car values and demand from professional buyers have steadily risen.
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