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BRS plans big
Page 108
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• NFC Car Auctions of Stoke — now known as BRS Car Auctions — is clearly placed for expansion, says commercial sales manager Howard Thornton.
The company was renamed last month following the launch of a major promotional campaign by its parent company, BRS Automotive, formerly known as Cartransport. The NFC subsidiary plans to double the size of its business from its present 230 million turnover within the next three years.
BRS Car Auctions, one of four divisions within BRS Automotive, is seen as one of the key areas for expansion. Thornton says the company will initially be looking for organic growth, but will also be keeping its options open as regards taking on new sites. "At the moment we are looking at specialisation, and will shortly be announcing details of a new type of van sale being introduced in the new year."
According to Tom Atkins, general manager of BRS Car Auctions, sales and residual values of vans up to 3.5 tonnes are holding their own. "While high interest rates are affecting the market in heavy commercials, van sales are doing well," he says. BRS, which has a specialist auction centre at Stoke-onTrent, has just renewed its contract with British Telecom. The two-year deal involves the disposal of vehicles, trailers and other equipment in the Midlands area.
Atkins says the economy is having an effect on heavy commercial sales as fleet operators hold on to their vehicles for longer. Trade buyers are limiting the amount they will borrow because of high interest rates.
"Interest rates are also affecting the market through an increase in finance repossessions, and while this means more vehicles are available, the greater supply is pegging residual values," says Atkins. "But there are exceptions — we have just gained a high residual value of £22,000 on a Seddon Atkinson 4-11 tractor unit; an 18-month-old vehicle with a Cummins E320 turbo engine."
Good residual values are apparently being achieved on the more unusual lots at Stoke. Atkins says a 1984 electricallypowered A-registered Sherpa panel van with 40,000km on the clock, sold recently for £500 to the owner of a Derbyshire dales dairy farm.