French remarketing sector growing again
For the fourth year running, the French auction market grew, by 2.2% to €2.49 billion, its best result ever. As before, the achievement was due in large part to the used vehicles remarketing sector, which returned to growth after shrinking 4.5% in 2013. Progressing by 5.9%, vehicle remarketing in France totalled sales of €1.01 billion – also a record. In all, used car sales represented 41% of the total auction market in France last year.
In another indication of vehicle remarketing's dominance of the auction market, the number of automotive players in the Top 20 sellers list has increased from 10 to 11. That list is headed up by BCAuto Enchères, a group that saw its sales increase by 23% to €226, beating VPAuto (+17%, €218 million), followed by Sotheby's France (€177 million). It's the first time any vehicle remarketer in France broke through the €200 million ceiling. The 7% increase of the entire Top 20 masks great differences; progress is mainly limited to the Big Three.
In 2014, a total of €633 million was awarded via electronic auction, up 31% from the previous year.