BCA has said that used vehicle process will “remain very robust for some time to come” after wholesale used car values rose 2.9% to £9,197 in September.
Independent dealers that partner with WMS group can benefit from enhanced access to used vehicle stock through a new partnership with MOTOM.
Used car supermarkets and franchised retailers responded to September’s sector stability to increase the value of their advertised vehicle stock by 1.5% and 1%, respectively.
The average price of used cars remained flat in August as stock volumes continued to dip and days to sell improved, research by eBay Motors Group has found.
A growing divide in the used car sector is seeing values decline among older vehicles in poorer condition as retailers remain ‘laser focussed’ on fast selling stock, BCA has said.
Auto Trader has claimed that car retailers pricing their used car stock using “opinion” instead of live market data are losing almost £11,000 a month.
Vauxhall’s zero-emissions Corsa-e hatchback has emerged as the most desirable’ car at Aston Barclay auctions as EVs and premium cars attract the most attention from buyers.
Used car sales slowed as the average price of a car advertised for sale declined by 4.7% in Q2 according to eBays Motors data which showed the impact of the UK’s growing cost-of-living crisis.
Startline’s Used Car Tracker has revealed that 63% of dealers have changed the types of cars they are stocking in response to the cost-of-living crisis.
Motorway has reported a 200% uplift un used vehicles sales via its online marketplace in the first half of 2022.
There are fears that the new cars being delivered with incomplete specifications due to the semiconductor shortage are storing up a headache for used car dealers and valuation experts.
The UK is now the only used car market in Europe where the value of vehicles continues to fall, according to data published by Indicata.
A magnificent seven electric vehicles (EV) topped Auto Trader’s fastest-sellers rankings for June and proved that car buyers are currently clamouring to avoid soaring fuel prices by embracing zero-emissions transport.
The UK’s used car sector would be “a bloodbath” for dealers without the high values and strong margins maintained as a result of 2022’s supply shortages, Cap HPI’s Derren Martin has suggested.
Car retailers eager to ensure their forecourts are stocked with the best used cars in a market currently starved of vehicle supply are being urged to sign-up to today’s free AM webinar.
Used car buyers are becoming more risk averse and seeking higher-quality vehicles with lower running costs.
The used car market has been enjoying stellar growth over the past two years as demand has outstripped supply; there has been a lack of new vehicle availability and more buyers are willing to pay a premium.
In a used car market starved of supply vehicle acquisition has become the boom industry, with retailers launching their own car buying platforms to rival third-party providers.
Used car marketing provider eBay Motors Group has said that a downward pricing adjustment was “inevitable” in the sector after seeing values decline by 1.5% month-on-month in April.
Vehicle supplies, compliance and new mobility are considered the three top challenges facing car retailers in 2022, according to the Startline Motor Finance’s first monthly Used Car Tracker survey.
