Auction house BCA achieved record-breaking used car sales volumes in October 2024, building on September’s strong performance.
Average used car values at BCA reached £7,685, a slight dip of just £34 (0.4%) from September but well above last year’s levels when the market was readjusting. October’s record sales volume reflected a 20% increase from the same month last year.
Sold volumes lifted to record levels in BCA during October, with used car sold volumes being 20% ahead of the same period last year, as more buyers were attracted to the rich mix of stock on offer within BCA’s online sales programme.
Despite some reports of a cautious approach emerging among buyers, BCA’s insights indicate sustained demand, particularly as new car supply remains limited due to lingering post-pandemic effects.
This was despite anecdotal feedback from some quarters suggesting there was an air of pragmatism entering the used market, alongside a perception that values may have peaked in recent weeks with a slight softening of retail demand.
Stuart Pearson, BCA COO commented “As previously predicted, values remained robust in recent weeks, thanks to significant interest from our buyers supporting our strongest October sold volume on record.
“While some volume buyers have been a little more cautious in recent weeks, there are no signs that the market is set to drop dramatically, as it did last year. Used retail activity remains reasonably healthy and, with many forecourts short of stock as we approach the year end, we expect demand to hold up well during the run into the Christmas period.”
