Used car dealers’ efforts to “buy up as much stock as physically possible” saw January buck an eight-year trend of declining January values with a 0.6% increase, Cap HPI data has indicated.
CD Auction Group expects its off-site remarketing services will handle half of all the vehicles it sells in 2020, reducing the need for vehicle movements.
The National Association of Motor Auctions’ (NAMA) monthly market attitude survey has indicated that many remarketing specialists anticipate a rise in the value of used hybrid vehicles during January.
BCA sold more used cars through its auctions in a single January week than at any other time in its history as it got off to a strong start in 2020.
The average value of a used car offered for sale at BCA’s auctions declined by 1.2% during December, but maintained the month’s fourth highest value on record.
Dealer Auction, the new trade-to-trade sales joint venture of Auto Trader and Cox Automotive, has just launched with an ambition to help dealers secure relevant stock as effortlessly as possible.
PSA Group and its in-house leasing firm Free2Move Lease has expanded its remarketing deal with Mhaeim to 30,000 vehicles.
Shoreham Vehicle Auctions (SVA) has raised more than £150,000 for Chestnut Tree House Children’s Hospice with the support of the south coast motor trade.
Digital used vehicle buying increases at Aston Barclay in the third quarter of 2019.
Manheim has launched a new suite of valuation and appraisal products to support dealers with the part-exchange process.
Unseasonably low September used car stock levels drove “a super-heated wholesale market”, according to the latest Cox Automotive Market Tracker report.
The used car market will remain strong through the fourth quarter of 2019, says the National Association of Motor Auctions, after its latest market attitude survey.
Manheim has appointed Inchcape Retail’s Dean Ashworth and Kwik Fit’s John Fletcher as general managers of its auction centres in Colchester and Wimbledon.
The used car remarketing sector “continued to strengthen” during August as the average price of a vehicle sold via BCA rose 2.9% month-on-month.
Fluctuations in the value of used cars and the wider adoption of ever-faster remarketing platforms have driven the used car market to become more “complex and volatile” in 2019, Cap HPI has reported.
ADESA UK has appointed Manheim’s former head if IT, Kevin Nugen, to roll-out its own “intense digital roadmap”.
More than half of used car retailers reported that they had achieved the same or improved margins during August, according to a Cox Automotive Dealer Sentiment Survey.
Physical car auctions in the UK have remained fundamentally unchanged for decades.
Manheim has launched a QuickList Imagery used car imaging offer in a bid to help speed-up retailers’ online marketing efforts.
Aston Barclay has appointed former Manheim director Richard Cross as its new group sales director.
