The UK’s used car and van markets will bounce back once the Government’s COVID-19 coronavirus lockdown restrictions are eased, according to Shoreham Vehicle Auctions’ (SVA) Alex Wright.
The UK’s used van market will recover faster than its car equivalent following the COVID-19 coronavirus lockdown as businesses turn to commercial vehicles to re-start their operations, Aston Barclay has predicted.
The high-demand for sub-£10,000 used cars seen in Q1 is expected to continue when the COVID-19 coronavirus lockdown is lifted, according to Aston Barclay.
Used car values declined 2.2% in March as retail and trade demand fell due to the Covid-19 coronavirus crisis, according to Cap HPI.
BCA’s UK-wide car auction sales will go online only from March 26 as the remarketing specialist “prioritises the well-being of customers and our people” amid the COVID-19 coronavirus outbreak.
BCA has revealed that the average value of a used vehicle rose 1.6% to a record £10,002 at its auctions in February as it praised the sector's resilience in the current COVID-19 coronavirus health crisis.
The volume of cars passing through UK remarketing centres looks set to stabilise during March following a “few months of strong growth”, according to NAMA.
Aston Barclay’s auctions centres in Prees Heath and Wakefield have enjoyed a record start to 2020 as demand for record used car volumes continues.
Coronavirus has been acknowledged among a series of “significant challenges” facing the automotive retail sector in the middle to long-term in Cox Automotive’s monthly Market Tracker report.
BCA is offering the next generation of used car remarketing talent a grounding in the sector through its in-house Graduate Development Programme.
Cox Automotive UK has completed the acquisition of vehicle services provider and Bruntingthorpe operator C Walton Ltd, expanding its whole-life vehicle services offering with its biggest UK acquisition to date.
The post-Brexit economic outlook, developments in vehicle autonomy and the impact of the 2035 EV announcement will all be key subjects in the next VRA meeting.
Car dealers’ part-exchange vehicles reached record values at BCA’s auctions during January as the sector continues to compete for a wide range of vehicle stock to fill their forecourts.
The remarketing industry will be forced to adapt to support the growth of mobility services, says the Vehicle Remarketing Association (VRA).
The Vehicle Remarketing Association (VRA) has warned of a potential “charging crisis” for remarketing companies as electric vehicles (EV) start to enter the used market in greater volumes.
Cargiant has renewed its exclusive remarketing contract with Aston Barclay to continue a relationship which has delivered £87 million of used car sales in the past five years.
Supplies of EVs and used cars, consumer demand and efficiency issues will all impact car dealers in 2020, with 54% anticipating increased pressure on profit margins according to a Cox Automotive sentiment survey.
CD Auction Group has launched its used car stocking app as it looks to back-up predictions that the number of vehicles sold off-site will soar to 50% in 2020 following.
Aston Barclay has reported an 8.5% rise in the value of used cars in 2019 as every single market segment delivered a price increase.
Mercedes-Benz UK has appointed Mercedes-Benz Financial Services’ customer operations director Sally Dennis as its new used cars and remarketing director.
