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BCA plans growth through consultation

Date: 27 June 2013   |   Author: Tristan Young

BCA is planning a more consultative strategy in order to sell one million vehicles a year, a target it hopes to reach within the next three years, according to recently appointed managing director Spencer Lock.

The firm currently handles around 800,000 vehicles a year in Europe, with 600,000 of these in the UK, and while it has recently added a host of new services for car dealers and will continue to do so, Lock revealed that BCA would also work with manufacturers, leasing companies and fleets.

The MD added that, currently, manufacturers and leasing firms spend far more time on the future residual value of new models and new car sales, but in future BCA would work more closely with these businesses to improve the real value of vehicles at the end of contract.

Lock said that growth would be organic, rather than through acquisitions, and would be driven by speeding up and making easier the remarketing process and adding value to customers' businesses.

Speeding up the process for sellers and buyers means that vehicles can be financially liquidated sooner, which would also improve a dealer's stock turn and so see them return to BCA more frequently.

"We know that when a car is sold through BCA it typically takes 20 days to appear on a consumer-facing website. That's  massive amount of time. If we can shorten that with ready-to-retail stock then stock turn will fall, dealers will sell more and we'll sell more too," said Lock.

"We want to unlock the value across the chain. We're getting more and more businesses to invest in the vehicle. If we can show that investing £50 it may return £100, then that can be reflected in the pricing."

Lock said that he also hopes to use the data collected with each sale to help sellers better target vehicles to maximise values.

"The data we have is huge. We know what sells where and when. And we can use that data to help people sell. It has always been there, we've just not used it before."

Currently operating under the working title of 'BCA Analytics', as well as vehicle details the company will also use buyer data such as purchasing habits to 'push' information about vehicles that are of probable interest to these businesses.

Finally, with BCA currently in the process of buying We Buy Any Car, although Lock is looking for organic growth he stopped short of ruling out acquisitions if changes in the market meant a new business sector was needed.



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