Franchised dealers avoiding older, cheaper cars are missing out as Young people about to sit their driving tests are preparing to spend an average £4,124 on a used petrol manual car.
Significant falls in used car values should be seen in context since they remain up to 30% above where they were before the peak in prices seen in 2021
At mid-September Cap HPI’s data showed the average value of a used car was down -1.1%, and its values experts are expecting the month-end drop to be another 2% overall, similarly to August’s outcome.
Dealers forced to battle for used car stock are being warned to take extra care as new analysis by vehicle history checking company CarVertical suggests that one in 14 used cars under five years old have incorrect or falsified mileages.
Rupert Pontin, commercial director at One Auto API, takes a closer look at how risks right across the sector are ready and waiting to chip away at confidence, efficiency and, ultimately, profits.
Volkswagen is offering up to £4,500 to people affected by the expansion of London’s Ultra Low Emission Zone (ULEZ).
Suzuki launches approved used car warranty
Drivers are increasingly factoring in the impact of London’s Ultra Low Emission Zone (ULEZ) emissions standards, according to vehicle history checking service carVertical.
Concern is growing that the agency model could further restrict the supply of used cars, according to the latest monthly analysis from Startline’s Used Car Tracker.
The winner of the 2023 AM Award for EV Dealership of the Year, FOW Car Supermarket, has adapted its strategy to optimise the sale of electric vehicles (EVs), both digitally and instore.
Good deals are to be had as London motorists rush to ditch their non-compliant vehicles ahead of the expansion of London’s Ultra-Low Emission Zone (ULEZ)
Car leasing firm Octopus Electric Vehicles has introduced a salary sacrifice program focused on pre-owned electric vehicles (EVs).
The UK's used car market continues to climb back towards its traditional level, according to data from the Society of Motor Manufacturers and Traders which reveals the first half of 2023 recorded 4.1% used car transactions growth year-on-year.
Independent used car dealers who want to help cash-strapped Londoners who'll be impacted by the expansion of the ULEZ area could do well by stocking selected cheap diesel cars with Euro6 standards which are ULEZ compliant, even though they were on sale before 2015.
Auto Trader reports that a 40th consecutive month of year-on-year used car price growth now leaves the average second hand car some £4,000 more expensive than in April 2020 when prices began to climb.
With London offering a £2,000 scrappage incentive to encourage city dwellers to scrap their oldest cars that won't be compliant with the expanding ULEZ ultra low emission zone, used car dealerships could be poised to tempt them with cheap replacement runabouts.
Peter Vardy is preparing to close two of its purpose-built large car supermarkets in Dundee and Glasgow as a result of challenges in the used car market.
Ebay Motor Group has revealed the top 10 fastest selling EVs in July.
Cox Automotive has signed terms with four car supermarkets that will result in an additional 2,000 vehicles a year selling through Manheim Auction Services.
Petrol was the fuel of choice for many used car buyers in July, against the backdrop of challenging economic conditions, according to eBay Motors Group.
