The used car market is set to exceed 7.7 million vehicles in 2016, beating last year's figure of 7.2m and the previous 2004 record of 7,731,609 vehicles.
Average used car values declined by 1.6% at three years 60,000 miles in December, a figure that compares to the same point last year, where prices moved downward by 1.8%.
Dealers are reporting a slowdown in business as consumer demand drops, with the majority expecting a 10% fall in new car sales in 2017.
Current volumes of pre-registration in the city car sector are far lower than at the same point in 2015.
A new app for Apple devices from Cap HPI promises the fastest access to industry leading vehicle valuation data – under 15 seconds.
GForces has partnered with HPI to enhance its data offering by providing vehicle history checks on dealer websites.
Petrol hybrid cars are showing the greatest forecourt price resilience as petrol and diesel vehicles both show falls of around 5%, Cap HPI has revealed.
Nearly new volumes “are of significant concern”, says Cap HPI, and likely to cause downward pressure on prices.
Main dealer or independent garage: fleet managers have a choice for who to turn to for the service, maintenance and repair of their company vehicles. But how do they reach a decision between the two – or is selecting one of the other depending on the job need the best compromise?
Cap HPI has followed news of its international expansion plans with the appointment of Martin Verrelli as business development director with a brief to grow the company’s global operations.
Strong demand will lead to record used volumes this year.
Cap HPI has strengthened its insurance division with the appointment of Scott Chandler as strategic account manager.
Demand for used cars throughout September has underpinned a stronger than normal market, with overall price reductions at three years 60,000 miles of only 0.2%, says Cap HPI.
Cap HPI is launching its global business at the Paris Motorshow as it prepares to underpin its insight and data services with a new global coding system.
Residual values will fall in the next 12 months by a couple of percentage points and up to 8% in the next three years.
A survey carried out by Cap HPI has revealed that one-in-four dealers expects volumes of pre-registered vehicles to exceed 21% of total new sales in September.
Cap HPI has warned that a “stable” used car market could suffer under the double-pronged pressure points of increasing volumes and an more nearly-new vehicles in the market.
Cap HPI shows says some car manufacturers now see average returns of vehicles bought new in 24 months.
Automotive data experts Cap HPI has indicated a "strong appetite" for used cars as it revealed the fastest selling models based on the latest market sales data.
Cap HPI is urging dealers keep a careful eye on stock turn as research shows pressure on margins over a 12 week period.
