Report signals sales trends and risers and fallers in the marketplace.
BCA, Europe’s largest vehicle remarketer, has launched a comprehensive European Pricing Report to help customers understand market trends and make informed business decisions dealing with used cars. The data is based on trade pricing from a wide range of customers and countries. Key conclusions from the first report indicate increased dealer confidence in the market and a continued decline in electric vehicle (EV) prices in May, nearing those of internal combustion engine vehicles.
As a leading European remarketer in the automotive industry, BCA offers precise and reliable data on market and pricing developments across all key automotive markets. This valuable information, derived from BCA’s pricing models and actual sale prices, is now available to the industry. The June report uncovers intriguing trends: despite unstable conditions in various regions worldwide, dealers are displaying increased confidence in the retail market, while EVs continue to face significant challenges.
In June, electric vehicle prices continued to decline across several markets, although at a slower pace than in 2023, with some variation depending on the model and country.
Many EV prices are nearing those of equivalent internal combustion engine vehicles. Other fuel types also saw price decreases in June, but at moderate levels consistent with typical movements seen at this time of year before COVID-19.
Examining the most common models in some market:
In Germany, each of the top-selling Mercedes models exhibited similar trends: a sharp decrease in Q3 2023 followed by a positive shift since January 2024. Since April, the GLC, and C Class models stabilized, while the A and B Class models experienced further price drops.
In the Netherlands, the Volkswagen Polo and Golf, and Renault Clio observed a continued decrease in prices since last year. However, prices of Gold an dClio have stabilized since May. Ford Focus and Opel Astra showed a positive trend early in 2024 but did not exceed the baseline due to a larger drop in 2023, and have been declining again in the recent months.
In France, all top models experienced significant price decreases in 2023, despite the Renault Megane having a resurgence in October. Prices trended upward in early 2024 but this reversed between March and April, except for Megane which presents a recent price stabilization.
Tobias Münch, BCA Europe Sales Director, stated “The report provides extensive pricing data, insights, and expertise, delivering substantial value to our customers. We plan to publish our European Pricing Report regularly, offering the automotive industry a valuable tool to actively drive business development in the used car department. This report also underlines BCA’s market position as a leading provider in Europe.”
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About BCA
BCA is the largest used vehicle marketplace in Europe, remarketing more than 1,5 million vehicles annually across 14 markets through its European marketplace and supplying over 30 countries.
BCA has developed innovative pan-European solutions across the used vehicle value chain. By offering a wide array of services, including remarketing, vehicle purchasing, transportation, customer assistance, and customizable platforms, BCA caters to the needs of OEMs, lease companies, financial institutions, and dealers, facilitating their buying and selling processes.
11 July 2024
Find out more about BCA at bca.com.
