Franchised car retailers and their manufacturer partners have been warned that they are at risk of losing the battle for the used car market as emerging online disruptors assert dominance in stock acquisition.
Aston Barclay has released its June used car desirability index with SUVs remaining the most in demand used car with UK buyers.
Retailers are failing to keep pace with rapidly increasing used car values and selling one in four cars too cheaply, according to Indicata.
A ‘record’ 73 million visits on Auto Trader in May was accompanied by an 8.1% year-on-year (YoY) increase in the average price of a used car.
Aston Barclay has ranked the UK’s 25 most desirable used cars to showcase the capabilities of its new desirability index.
Soaring wholesale used car prices are “not recoverable” through retail price rises, creating an environment of ever-shrinking margins.
Used car prices have risen by 6.7% during May as “amazingly strong” demand resulted in “unprecedented times” for the sector.
Car retail valuations and insight specialist Cazana has rolled-out a rebranded logo and new website as part of its drive towards “global expansion”.
Used car price growth has accelerated significantly, according to Auto Trader, following the reopening of showrooms last month.
Used car prices are soaring as car retailers report demand so strong that the “can’t stock the forecourt fast enough” – and supply shortages look to continue the trend.
A dog and a set of false teeth feature among Motorpoint’s top ten ranking of the most unusual things to be left inside vehicles by customers trading-in a car as a part-exchange.
A 36% April surge in online traffic from used car buyers was accompanied by a 7.1% year-on-year rise in advertised vehicle values on Auto Trader.
Used car prices at auction have risen by up to 8% in the last two weeks since showrooms were able to re-open.
BCA has revealed that used car values rose by an average of 15.8% as traders’ stocking demands ramped-up in the week of the April 12 reopening of showrooms in England and Wales.
Auction companies are predicting that values for used petrol and diesel cars will remain strong as the country emerges from lockdown and consumer confidence improves.
Demand for used diesel cars drove prices to record hights during the first quarter of 2021, according to Autorola.
Auto Trader has said it expects the UK’s car retail sector to deliver a “fast return to health” after seeing a 12th consecutive month of rising used car prices and record online engagement from buyers in March.
Used car values have reached a “tipping point” with prices rising for the first time in five months as an easing of COVID-19 ‘Lockdown 3’ retail restrictions draw nearer, says Cap HPI.
Growth in the value of used cars is beginning to stabilise despite signs of an acceleration in demand from consumers as the easing of COVID-19 ‘Lockdown 3’ draws nearer, according to Auto Trader.
The average list price of a used car increased by 1.5% in February, climbing from £12,370 to £12,558, according to eBay Motors Group.
