Record used car prices are not deterring new car buyers from switching into a used alternative to avoid the lengthy lead times triggered by supply shortages, according to Auto Trader.
Auto Trader has launched a new incentive to encourage car buyers using its platform to part exchange their existing vehicle.
Car buyers have been faced with a 14.1% increase in the price of the average car advertised on Auto Trader during July.
Cox Automotive has warned that ‘more needs to be done’ to encourage consumers to adopt electric vehicles (EVs) ahead of the 2030 ban.
Auto Trader is providing retailers with new access to a stock of more than 30,000 vehicles sourced directly from consumers, it said.
UK motor retailers were celebrated in the 2021 Auto Trader Retailer Awards, with Hills of Woodford, Peter Vardy and Vindis Group among the winners.
Strong levels of consumer demand in the market is continuing to drive used car price growth on Auto Trader, according to its latest data.
The 2016 Volkswagen Touareg has been revealed as the UK's fastest selling used car, taking an average of 22 days to sell.
Auto Trader has issued car retailers which exemplify the “very best in automotive retail” with assets celebrating accreditation under its Highly Rated 2021 programme.
An 11.1% June uptick in used car prices on Auto Trader suggests that dealers have been making efforts to realign their advertising to accommodate recent months’ wholesale price surge.
Auto Trader has revealed that car buyers are considering vehicles being offered for sale 25% further from their homes since the start of the COVID-19 pandemic.
The Mercedes-Benz GLA Class compact SUV topped the rankings of the fastest-selling used cars advertised on Auto Trader as dealers continued to see a reduction in days to sell.
May’s used car sales volumes were 14% ahead of the same period in the pre-COVID trading period of 2019, according to data from Auto Trader.
Car retailers have been warned that Government travel bans and delayes to the easing of COVID-19 lockdowns are likely to see the "huge accelration" in used car pricing continue.
Auto Trader suffered a 29% decline in revenues and 38% reduction in operating profit as it acted to mitigate the impact of COVID-19 on its car retail customers, its 2020 annual financial results have revealed.
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.
The Jaguar I-Pace scooped New Car of the Year in last week's Auto Trader New Car Awards 2021 however premium brands were far from dominant. Trophies went to more than 20 new cars, including Best Value Brand to Dacia, Best Value New Car to the MG ZS and Best Value Electric Car to the Kia Soul EV.
Used car price growth has accelerated significantly, according to Auto Trader, following the reopening of showrooms last month.
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.
Almost two-thirds of car buyers would be open to buying a car without a test drive if the dealer offered a 14-day money back guarantee, according to new research from Auto Trader.
