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.
Record used car value increases in September have been hailed as a “black swan event” by Cap HPI, with head of valuations Derren Martin describing the seventh consecutive month of rising prices as “extraordinary”.
Used car values have risen by an average of £2,125 (16.6%) in each of the last four months, according to data published by Cap HPI.
Valuation experts and AM100 retailers have conceded that they do not know when this year’s “unprecedented” used car price rises will end.
Cap HPI has underlined the importance of its live valuations service as the pace of wholesale used car price rises continued with a 13.5% increase in the past three months.
Almost a third of new car buyers are switching to the used car market in a bid to avoid stock availability issues and gain better value for money, a survey conducted by What Car? has found.
Mark Bassford, the former head of strategic partnerships at Cap HPI, has joined Auto Data Solutions as its new product and innovation director.
Used car prices have risen by 6.7% during May as “amazingly strong” demand resulted in “unprecedented times” for the sector.
Used car prices are soaring as car retailers report demand so strong that the “can’t stock the forecourt fast enough” – and supply shortages look to continue the trend.
What Car? has teamed up with valuations experts at Cap HPI to rank the UK’s slowest and fastest depreciating cars.
Used car values have reached a “tipping point” with prices rising for the first time in five months as an easing of COVID-19 ‘Lockdown 3’ retail restrictions draw nearer, says Cap HPI.
The UK Government’s decision to lower the value of its plug-in car grant EV incentive will have little impact on used car values, according to Cap HPI.
Cap HPI has said that a realignment of used car price values was “always likely” after it reported a fifth consecutive month of declining vehicle prices across the sector.
Brindley Motor Group, Mon Motors, Helston Garages Group, Johnsons and Marsh Wall have all signed contracts for used car provenance services from cap hpi
A slowdown in consumers’ car buying activity and uncertainty when the current COVID-19 ‘Lockdown 3’ restrictions will end was the catalyst for a fall in used car trade prices in January.
Bodyshop management system firm InSyPro has been acquired by Solera, in the latest deal to expand the supplier of automotive risk and asset management data and software.
