Well it looks like the surge is well and truly on. Talking to colleagues up and down the country, not only are they experiencing increased retail demand but they’re beginning to find it harder to source stock at auction and the prices are certainly strengthening. As predicted last year and apart from the early weather blip, the lead times for … [Read more...]
Private equity groups compete for BCA
November 12, 2009 By Leave a Comment
BCA, Britain and Europe's largest vehicle auction group, has attracted bids from a clutch of private equity groups that are expected to submit final offers next month. The bids are expected to value the company at up to £500 million. Bridgepoint, Cinven, BC Partners and Clayton Dubilier & Rice are all expected to reach the second round of … [Read more...]
Reality bites at the auction
November 11, 2009 By Leave a Comment
On making my first visit to the 'ring' for a few weeks I was determined to keep an open mind as to how cars were selling, what was hot and what was absolutely ice cold. I discovered that, probably like most forms of buying and selling, cars which looked the part and had the “pedigree” to back them up sold and had many and various bidders vying … [Read more...]
BCA could soon be up for sale
September 2, 2009 By Leave a Comment
BCA, Britain and Europe's largest vehicle auction group, could be put up for sale by owners Montagu Private Equity. The group, which bought BCA three years ago from a consortium of investors, is believed to have stamped a £600 million price tag on the organisation. If sold at that price it would represent a £150m profit for Montagu. … [Read more...]
SMA urges dealers to set realistic auction prices
August 26, 2009 By Leave a Comment
Vehicle dealers and fleet operators selling stock at auction in the next few weeks should make sure that they set realistic reserve prices that take into account the fact that market conditions may soften, according to the RMI's Society of Motor Auctions (SMA). The SMA, which represents the majority of the UK's motor auctions sector, believes … [Read more...]
SMA say auctions still a good source for used cars
July 31, 2009 By Leave a Comment
Motor dealers are reporting increasing difficulty in sourcing good quality used cars, but are still able to rely on motor auctions, according to the RMI's Society of Motor Auctions (SMA). '2009 has seen a booming used car market, but this is at risk of becoming a victim of its own success,' according to Louise Wallis, Head of the SMA. … [Read more...]
BCA reveals silver as the top used car colour
July 9, 2009 By Leave a Comment
British Car Auctions (BCA), has published details of the most popular used car colours sold in the first three months of 2009. Once it was any colour as long as it's black - now the list stretches to some 2,000 plus shades and variations With data covering over 125,000 vehicles, Silver took the number one position at nearly 25%, posting a … [Read more...]
Ford Europe cuts production capacity
March 16, 2009 By Leave a Comment
Ford of Europe has announced further actions to reduce production capacity in Europe 'due to the unprecedented decline in the European new car market and the continuing negative economic outlook'. Ford Europe said it would "take a set of measures to line up production capacity to the sagging car demand and it would reset the manufacturing plans … [Read more...]
Society of Motor Auctions says demand “exceptional”
March 14, 2009 By Leave a Comment
Used car auction prices have been higher in the early months of 2009 compared to the end of 2008, according to Retail Motor Industry’s Society of Motor Auctions (SMA). However, SMA chairman David Scarborough has warned that without an upswing in new car sales the auction boom is likely to come to an end. With used car demand up around 20% … [Read more...]
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