Vendors’ attempts to hold back stock for better prices in January led to disappointment amid high volumes and lower than expected values, the National Association of Motor Auctions has reported.
Motorists' brand loyalty has been called into question by Auto Trader data which suggests most opt to stick with a certain vehicle type than manufacturer.
Strong demand and rising used vehicle volumes drove BCA Partner Finance to a record month, with over 500 units a day being funded throughout January.
An independent used car supermarket has hatched plans to expand its facilities to accommodate 700 cars following its move to a new 3.7-acre site.
RAC Approved Network has targeted the addition of a further 100 dealers by the end of 2017, bringing the total to 370.
Britain’s used car market reached record levels in 2016 with 8.2 million vehicles sold – an uplift of 7.3%.
Pendragon has set out a plan to double its used car revenues in 2017 after new car turnover declined 1.4% in 2016 – despite a 1.9% overall rise in revenue to £4.54 billion.
Independent Motor Auctions has recruited a new commercial manager and shifted its sales ambitions following its acquisition of West Coast Motor Auctions.
Cox Automotive saw year-on-year increases in selling prices in both the wholesale and retail used car markets in January.
Carspring has found that the UK new car market is the second-quickest depreciating in the world – losing an average 51.9% after the first 34,700 miles.
Used car values rose at auction in January as buyers competed for stock in a strong market, according to the monthly BCA Pulse report.
An all-electric car made the top ten of Auto Trader’s fastest selling used cars for the first time as the Vauxhall Zafira topped the charts for January.
Carwow has launched a £1.2 million advertising campaign across television and radio with the catch-line ‘car buying with you in the driving seat’
A used car dealer has seen his business “devastated” by the loss of seven vehicles in a late night raid just five days after a move to new premises.
Magistrates ordered a used car dealer to pay £5,000 in compensation and fines after after hearing how he sold unroadworthy vehicles and refused customer refunds.
BCA’s 20-acre remarketing and logistics facility at Perry Barr was officially opened by the Lord Mayor of Birmingham.
Demand for cars over 10 years old and 100,000 miles resulted in a 0.3% rise in values, despite an overall used car market dip of 0.6% during January.
Auto Trader has confirmed it is aiming to introduce its new price indicator labels to adverts before the end of March this year.
Record numbers of car dealers are exploiting online sales according to online marketplace Buyacar.co.uk, which experienced a 41% uplift in business during 2016.
Online sales values of ex-fleet stock beat physical auctions by average of one per cent in 2016, according to epyx.
