New data from BCA suggests there is a significant shift in the way professional buyers are prepared to acquire their LCV stock.
Sales via the Live Online channel accounted for over 20% of all BCA LCV sales last year, compared to just 5% in 2009. Figures for 2011 to date suggest the percentage of LCV sales to online bidders will top 30% by the end of this year. Live Online allows trade buyers to bid for vehicles on their laptop or PC against buyers in the auction hall in real time. BCA has also seen LCV sales numbers climb in its daily Bid Now, Buy Now and e-Auction online sales.
Nearly 6,000 individual professional trade buyers logged on to buy LCVs at BCA last year. Nearly £150 was added to the value of every vehicle sold to Live Online bidders and an additional £6 million generated in total value.
The highest percentage of commercial vehicles sold online was Double Cab Pick-Ups, with 37% being purchased by Live Online buyers. Mini-buses, Lutons and station wagons also sold in relatively high percentages to online bidders.
BCA’s Duncan Ward commented “We have some buyers who buy almost exclusively online, particularly when they are searching for more specialist commercial vehicles. If current levels of online activity are maintained, the number of LCVs sold online at BCA could well represent a third of the total volume this year. The message is clear – Live Online generates valuable additional buying power for commercial vehicle sellers.”