According to information shared by the Conseil des Ventes (Council of Sales), the auction houses specialising in second-hand vehicles and industrial equipments have reached a historic level. Under the influence of inflation, the auction sales totalled 1.963 billion euros.
The second-hand vehicles and industrial equipments auction sector has regained momentum. According to information shared by the Conseil des Ventes (Council of Sales) on 22 March 2022, not only have auction houses bounced back after a difficult 2020, but they even set a new record. Their combined business totalled 1.963 billion euros in auction sales for the 2021 financial year.
This figure is up by 27.8% on the previous year which, it should be noted, was marked by the closure of auction houses as part of public health measures. More importantly, the total is 20.5% greater than that of 2019, which remained the reference year for the sector. For the past decade, the Conseil des Ventes reports average annual growth of 7.2%, which illustrates the lasting momentum of auction houses.
As auctioneers explain, the inflation has worked in their favour. The price hikes have largely compensated for supply-related issues with second-hand vehicles sold through auction. It is worth noting that the second-hand vehicle segment alone accounts for 94% of activity in France, which rose in value by 27% last year compared to 2020.
The Conseil des Vents only considers activity defined by the code of the profession, and not white-label product sales for partners. According to these terms, Alcopa Auction enjoys top billing in the rankings, ahead of BCAuto Enchères, with 517 million euros in sales (+36% vs. 2020 and +43% vs. 2019) compared to 492 million euros (+29% vs. 2020 and +18% vs. 2019). With 315 million euros in sales (+16% vs. 2020 and +7% vs. 2019), VPAuto is holding onto third place.
The award for progress in 2021 goes to Autorola. The operator rose two spots in the rankings to come in at fifth place, thanks to annual growth of 70% of total auction sales to 82 million euros. Adesa France reported a similar growth rate, with 26 million euros over the same period.
In 2021, the top 20 houses had a combined total of 1.898 billion euros in sales of second-hand vehicles and industrial equipment, or 96.7% of the total achieved by the entire sector. This dominance was slightly less than in 2020, when it totalled 97.3%. Their representativeness was also on the downturn across the entire world of auctions (46.9% compared to 51.6% a year before).
(Source: Le Journal de l'Automobile)