A festive rush to stock petrol and diesel cars triggered 25% sales growth at UK auctions as consumers cooled on the idea of buying a pre-owned electric vehicle (EV).
Cap HPI has warned that further ‘significant reductions’ in used electric vehicle (EV) prices are expected after Tesla’s Model 3 lost a quarter of its value in less than four months.
Stock starved car retailers are avoiding used electric vehicles (EV) as zero-emission vehicles continue to decline four times faster than their diesel-powered equivalents.
Used versions of Tesla’s Model 3 electric vehicle (EV) have lost around £5,000 in value in two months as the supply and demand balance of zero-emissions cars puts pre-owned prices to the test.
‘High demand’ for petrol and diesel vehicles is continuing to drive the strength of the used car market, according to Cap HPI’s Derren Martin.
Uncertainty surrounding the balance of supply and demand in the automotive sector has created the most difficult period ever to forecast used car value trends, according to Cap HPI.
Car retailers are having to “work harder” to maintain sales as consumer demand begins to falter, Cap HPI has reported.
Holidays in the sun are being prioritised above car purchases ahead of a tough winter which is expected to see the UK slide into recession amid ongoing inflation, Cap HPI's Derren Martin has suggested.
Selling EVs? You should. A lower total cost of ownership strengthens the case for customers to buy an electric car ahead of the 2030 zero emissions deadline.
The battery health of electric vehicles (EV) “must” join age and mileage as a key used car valuation metric, but new legislation might be required, it has been claimed.
Despite signs that the UK’s cost-of-living crisis is starting to impact the value of older vehicles, there are no signs of prices “crashing” in the used car sector, Cap HPI’s director of valuations has told AM.
There are fears that the new cars being delivered with incomplete specifications due to the semiconductor shortage are storing up a headache for used car dealers and valuation experts.
Solera has introduced eBay Motors’ live used car retail data to its Audatex Market Value Manager to help insurance claims handlers offer more accurate valuations in a fast-moving market.
The UK’s used car sector would be “a bloodbath” for dealers without the high values and strong margins maintained as a result of 2022’s supply shortages, Cap HPI’s Derren Martin has suggested.
Used car retailers have experienced a May sector “down on hopes and expectations” with average values down by 0.7% as a result, Cap HPI has reported.
With retailers operating in an increasingly challenging used car environment where stock is in short supply and prices are continually adjusting, it has become even more imperative to price used vehicles correctly to both maximise margins and maintain stock turn.
In a used car market starved of supply vehicle acquisition has become the boom industry, with retailers launching their own car buying platforms to rival third-party providers.
Auto Trader brand director Marc Palmer asserted that “areas of affluence” are the UK’s hotspots for interest in electric vehicles (EV) as the cost-of-living crisis continues to squeeze car buyers’ purse strings.
Cap HPI has launched a new digital imagery tool that is designed to help dealers and car makers to boost online sales.
Used car inventory levels grew by 4.7% in September, but the improved supply did nothing to stem price growth.
