Record BMW used car sales

BMW is set to achieve record used car sales through its dealer network in 2006. Over 80,322 BMW Approved Used Cars and MINI Cherished vehicle sales had been recorded by the end of October. This shows a year-to-date increase of 13.5 per cent compared to the same period as last year’s record year.

Sales of BMW Approved Used Cars accounted for 59,666 vehicles in the first 10 months, an increase of 10.3 per cent compared to 2005.

Jim O’Donnell, Managing Director BMW (UK) Limited, commented: “2006 is proving to be another extremely successful year for BMW. New car sales are buoyed by record used car sales and we expect to achieve another record-breaking year in a market that is generally in decline. Approved used cars are the bedrock to strong residual values and support the new car market. We will not rest on our laurels however and will continue to work with our dealers as they focus on this important business opportunity.”

This exceptional performance underlines the growing importance of the used car market to BMW UK. In 2005 the total UK industry volume for used cars was more than three times that of the new car market.

This performance also supports strong residual values (RVs) for BMW, a key purchase decision for many owners. As an example, according to Glass’s Guide, BMW’s highest selling model the 320d SE Saloon currently enjoys 49.1 per cent retained value over three years and 36,000 miles - a stronger performance than its competitors.

Proving that the BMW Group offers products that appeal to the heart and wallet, Auto Express announced recently that BMW had the best residual values in the compact executive and executive sectors. The BMW 318d SE retained 51.6 per cent of its value over three years and the 535d SE 51.7 per cent. MINI meanwhile dominated the supermini category. The MINI One D retained a massive 61.1 per cent, making it one of the best performers in any sector.

The interest in BMW used cars is also borne out by the fact that BMW continues to be the most searched-for marque on the UK’s biggest used car database. The www.autotrader.co.uk website handles an average of 18 car buyer searches every second or 1.6 million searches every day. Research has found that used car buyers increasingly prefer to search for German cars, with BMW being the most popular. The marque now accounts for 9.3 per cent of all used car searches.