Strong Demand For Top End Performance And Premium Cars At BCA Sale

BCA / Performance Cars
Buyers were out in force at a dedicated sale of used Porsches as market insiders confirm there is a healthy demand for second-hand sports cars, as well as luxury and premium stock.

A BCA sale for Porsche Retail on January 8 saw new records being set for the vendor with its entry of 80 vehicles getting a conversion rate of 90% and generating proceeds of £1.9 million. The auctioneer said there were almost 550 bidders competing for cars online as well as having a packed hall from would-be buyers wanting to physically see the vehicles.

Among the strong sellers was a 2016 registered Porsche Macan 3.0 Diesel which went for £36,000 at 21,000 miles and another 16-plated Porsche 911 PDK Auto sold for £62,200. From a different marque, but still very much at the premium end of the market, a 67-reg Mercedes–Benz E220 Alpine Coupe made £23,800 at 35,500 miles.  In total, 79 vehicles sold for £1.9 million, generating an average value in excess of £25,000 and an average of 99.5% of Cap Clean.

Healthy Start For The Upper End

Suzanne Spencer, BCA’s Major Account Manager, said all the signs point to a healthy start for the upper end of the used car sector this year with good demand from dealers looking for prestige stock. Suzanne said: “Our customers know that Porsche Retail offer an exceptional choice of luxury, prestige and performance vehicles and these sales generate a genuine buzz with our buyers.  The used car market has started strongly at BCA in 2020 with significant demand for prestige and performance vehicles.”

Demand is not confined to the more expensive vehicles though. Earlier this week both BCA and Manheim reported an exceptionally strong start to 2020 across the board with cars and vans being snapped up. BCA says it set new records for itself, selling more in one week – over 26,000 – than at any other time before and Manheim said that it is seeing conversions of more than 90% with many vehicles beating their CAP Clean target values.

For more information on Click Dealer’s products and services, you can get in touch with the Clickers via [email protected], 01782 478220 or via our contact page.

2020 Used Car Demand ‘Unprecedented’ Say Auction Houses

Used Car Demand
Three weeks into the new year and already trade insiders say that demand for used stock is running at ‘unprecedented’ levels with all the metrics in auction halls pointing to a healthy market.

Manheim says that it has seen conversion rates running at better than 90% with many vehicles beating their CAP Clean value and BCA adds that it has sold more vehicles in a single week than at any time in its history, establishing a new single sale day record in the process.

Andy Conde, of Manheim, said conversions are running at more than 90% and many vehicles are fetching more than 100% of CAP Clean. While that may be linked to a shortage of supply there is a feeling that growing consumer confidence and demand now the General Election is behind us is an equally big driver.

He said:

“Usually the first week of trading of the year is a relatively sedate affair whilst everyone dusts off the Christmas cobwebs but from day one the demand for used cars has been unprecedented. The growth in auction prices is obviously related to supply, or should I say lack of supply, but I have noticed a feeling of confidence across the board since the election result, something that’s not restricted to just our industry.

“Buyers are certainly chasing the stock wherever it goes, and we are seeing vast numbers attending those sales that have large volumes. With high prices and high conversions comes the added high expectations from our vendors. I am constantly asked how long the current trend can last for and the answer I give is simple – as long as the buyers and the demand are there, the status quo will remain.”

Meanwhile, BCA reported record sales of more than 26,000 in the second week of this month with packed halls at its 24 centres and plenty of online business too. It echoed Manheim in reporting excellent conversion rates and strong values across the board.

Incredibly Strong Demand For Stock

Manheim says the picture is equally strong in the used van market with its first LCV sale seeing more than 90% of the 360 entries being sold and beating the CAP Clean figures in the process.

Stuart Peak, Manheim’s LCV specialist, said:

“The year has started with a bang with an incredibly strong demand for stock. First-time conversion on the day came in at just over 93% with vehicles selling at a shade under 105% CAP Average – what a way to kick off the year!”

He said the December sold volumes increased by 8% year on year and that days to sell second-hand vans came down by four against 2018 despite them being older and with higher mileage.

For more information on Click Dealer’s services, contact The Clickers on 01782 478 220. You can also reach us via [email protected] or through our contact page.