An increase in wholesale stock availability and slowing demand has resulted in a seasonal used car price slump in November, according to industry data analysts Cap HPI.
Cap HPI has promoted its head of finance John Dennis to the role of UK sales director.
Used car prices dipped by 1.2% as the second half of October showed ‘significant signs of a weakening market’, according to Cap HPI.
2018 will be the year of the used car, particularly diesels.
Diesel remains “the right fuel choice for a significant number of drivers” with recovering used car prices suggesting that consumers are starting to make their own judgements of the fuel, according to Cap HPI.
Tablet-based technology is allowing car dealers to appraise, value and provenance check a vehicle on the forecourt via a new platform delivered by Cap HPI.
Dealers’ dependence on used car sales for profitability is likely to deepen in 2018, says Cap HPI
Cap HPI has responded to reports that diesel car values had seen residual value drops of as much as 26% since the start of the year - claiming that the figure amounted to "harmful scarmongering".
Cox Automotive has welcomed Philip Nothard as the head of external relations.
Consumers change their cars more often than they do their smartphones as their mindset shifts towards “usership rather than ownership”, according to HPI.
Carwow is supporting its growth plans by signing a new two year data deal with Cap HPI.
Car history check website MotorCheck has successfully defended its advertising against a Cap HPI claim it was misleading.
Citroen’s C Zero hatchback emerged as the EV with the lowest cost of ownership when it topped a table compiled by Cap HPI to help consumers measure the impact of a shift to EVs.
The SMTA (Scottish Motor Trade Association) has partnered with Cap HPI to offer an approved vehicle check for its members.
Cap HPI has placed its vehicle appraisal data in the palm of a cars dealer's hand with the launch of a new app available on Apple and Android tablets.
Analysts from Cap HPI have briefed staff from the Bank of England on the current condition of the UK new and used car markets.
Used car prices “bucked the trend” for a July decline to remain at their most stable rate since 2012, according to Cap HPI.
Cap HPI has promoted Chris Wright to the role of managing director of its global operations.
The used car market looks to be on track for a record year after a bumper H1 saw 3.3 million vehicles sold by the end of June – an increase of 01% on 2016.
Car dealers have been urged to make mileage investigations "an integral part of their business" after a Cap HPI survey uncovered growing concern about growing clocking and mileage discrepancies in the past 12 months.
