Tag Archive | "Car auctions"

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BCA AGREES DEAL WITH INTERNET START-UP


Online used car start-up Cazoo has announced that it has signed a long-term agreement with auction house BCA for a dedicated vehicle

Alex Chesterman, Cazoo

preparation site in Corby, Northamptonshire.

The Corby site will be extensively refurbished and upgraded later this year to create a market-leading preparation, processing and imaging facility with the capacity to refurbish upwards of 50,000 cars per year and store over 6,000 cars.

This agreement follows Cazoo signing a commercial partnership with BCA last month covering logistics and refurbishment. Cazoo secured £30 million of funding at the end of last year, making it one of Europe’s best-funded start-ups.

Alex Chesterman, Founder of Cazoo said: “BCA are the leading provider of remarketing and automotive services in the UK and we look forward to working closely with them as we develop our business. Having a dedicated preparation site will allow us to achieve the highest standards and deliver the UK’s best used car buying experience.”

Avril Palmer-Baunack, Executive Chairman, BCA commented, “We are delighted to have entered a long-term agreement with Cazoo to develop a state-of-the-art preparation centre in Corby. We look forward to working with this exciting and innovative automotive start-up and supporting their business needs with our expertise.”

 

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NAMA REPORT INCREASE IN CONVERSION RATES

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NAMA REPORT INCREASE IN CONVERSION RATES


The National Association of Motor Auctions (NAMA) has published its most recent car auction data report covering the month of February 2017.

The report shows that overall in February that average selling value decreased -4.8% from £5,296 to £5,041 while average mileage went up by 2.3% to 66,811 and the first time premium was £74.

Louise Wallis, Head of NAMA commented, “Wholesale activity in February was buoyant. It was clear that the excess volumes experienced in January had largely washed through auction centres. “Whilst there was no shortage of stock, demand led to an increase in conversion rates” she added.

“The following weeks will see large numbers of part exchange vehicles enter the market following the plate change in March. The car demand should allow these vehicles to be absorbed by the market as they are brought to supply dealer forecourts to fulfill consumer demand. We look forward to seeing what the rest of the first quarter of 2017 brings.”

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