Over three-quarters (80%) of car buyers say they got a good or great deal on their used car despite average listing price 37% above pre-pandemic levels.
The lack of new car supply over recent years will significantly impact the UK’s car supermarkets next year who will struggle to secure used cars in the 3–5-year age bracket.
Dealers are divided over the type of used electric vehicles (EV) that are needed to spark greater customer interest, new research suggests
The UK’s used car market is being held back by younger cars, with the average price of a car less than three years old (£29,699) contracting 3.5% year-on-year, according to the Auto Trader Retail Price Index.
Dealers are targeting not only pricey premium petrol and diesel SUVs but also lower value used EV and hybrid models as drivers increasingly move away from ICE cars, according to latest desirability index from auction house Aston Barclay.
Used car values continue to grow, though at a slower rate than previous months, according to the latest data from Auto Trader’s Retail Price Index.
The used car market in the UK will fail to stage any significant comeback until next year, according to Cox Automotive.
Ebay Motors Group has revealed the fastest selling used electric vehicle for June, with all selling in under 28 days.
Average used car prices increased by 3.2% in June to £17,756, rising at the fastest rate in eight months, according to the latest data from Auto Trader.
Dealer optimism about the used car sector has reached a 14 month high, according to the new Startline Used Car Tracker.
Average used car values have dropped by 0.9% so far in June, according to AM’s latest exclusive mid-month update from Cap HPI.
Ebay Motor Group has revealed the top 10 fastest selling electric vehicles listed on motors.co.uk in May.
Used car dealers continued to avoid stocking higher value premium used cars in May to help preserve their cashflow, according to Aston Barclay.
Used EV values could fall by a further 5-10% in the next few months, the latest Vehicle Remarketing Association (VRA) member meeting was told.
An overwhelming majority of car retailers (84%) say the availability of used car stock is their biggest concern, according to May’s Startline Used Car Tracker.
Dealer Auction has revealed the top 10 used cars that have delivered the best retail margins in April.
More than half of people (55%) say lower prices would be the number one factor that would bring them into the used car market.
The market share of used EVs rose above 3.0% for the first time as sales slowly increased during April, according to Indicata’s latest Market Watch report.
Used retail prices have increased by 3.6% year-on-year on a like-for-like basis, according to Auto Trader’s latest data.
Cap HPI has launched a free new tool for dealerships that will help them more accurately price optional extras on used vehicles.
