The increase in showroom traffic since the easing of lockdown restrictions has resulted in both a very welcome and sharp increase in sales across dealerships throughout the UK along with a knock on increase in volumes passing through the auctions. With the market buoyant and consumer confidence strong retailers are buying vehicles to stock their forecourts to meet this strong consumer demand. Over the next few weeks we expect to see a continuation of a strong used vehicle market with auctions being key to its success.
A very interesting report this week from Auction4cars has highlighted high fees being charged by some online car auctions in the UK. The report has shown that traders across England, Scotland and Wales are potentially paying up to eight times more in fees dependent on which online auction provider they are using. As an example of the disparity between auction sites, a customer bidding for a vehicle below £5,000 would pay only £50 in fees at one provider compared with £467 from an alternative provider. Any individual or business looking to keep costs down really needs to take the time to shop around for the best value provider, savings could be huge.