26 May 2021

Meeting chaired by:

Martin Potter, Aston Barclay MD – Customer

Why was the meeting called and who was in attendance?

To discuss how the business had responded to the first month of dealers re-opening their doors post lockdown 3.0 with Justin Lane, Operations Director and Richard Cross, group sales director.

What was top of the agenda?

How Aston Barclay colleagues have successfully worked together in partnership with vendors and buyers to deliver a new hybrid/physical auction experience.

What was decided as a result of the meeting?

To keep the current hybrid arrangements in place with dealer part exchange, Motability and light commercial sales remaining as physical sales with vehicles being driven through the halls supported by online. Meanwhile, fleet and OEM sales will remain online with the latter having vehicles inspected and sold remotely.

Any other business?

To discuss the current used market where demand exceeds supply pushing up prices during April and early May. In turn we discussed what impact the semiconductor shortage on new car production will have on the used car market.

The market is already short of used cars and so prices have risen over the past few weeks. We are experiencing higher conversion and price rises due to strong physical and online attendance by buyers eager to understand how the market is moving.

The longer the semiconductor problem goes on the more pressure there will be on used supply and prices will continue to rise.

Our leasing company clients tell us that they have very healthy order books so when supply problems are relaxed there should be plenty of used cars coming into the market. It could be next year before we see the market settle down to its latest ‘new normal.’ We will continue to watch this space.

When is the next meeting, and what is it about?

At the end of May.

We agreed when the new hybrid set up was launched after an extensive customer survey our approach would be reviewed regularly both with buyers and vendors.

Listening to their feedback and responding accordingly is key to how we will run future sales. We believe the semiconductor issue will still be causing problems with used car and van supply, plus we will be starting work on some special research into the EV and hybrid used car market.

About the company: 

Company: Aston Barclay

Head office location: Wakefield

Principal business: Physical and online used car remarketing business via six locations in the UK.

Number of employees: 200

Tags: aston barclay, Notes from the meeting room