Since coronavirus lockdown started in late March Cazana has recorded a small uplift in values for sub-£10k vehicles, and there’s no been “race to the bottom” in the car market.
Following clarification on car dealers ability to trade in the COVID-19 coronavirus lockdown Cazana's director of insight, Rupert Pontin, asks whether 2020 used car demand could actually be higher than 2019.
While used car performance helped to deliver stable levels of profit and volume in 2019 there have been some signs of an early wobble in 2020 with pressure on petrol values in particular.
Car retailers must be ready for the challenge of stocking and selling cars while respecting consumer concerns and observing Government legislation after the COVID-19 coronavirus lockdown.
Used car values have continued to fluctuate online despite calls from Cap HPI and Auto Trader to maintain a stable market through the postponement of changes amid the COVID-19 coronavirus lockdown.
Auto Trader has urged used car dealers to resist the temptation to reduce the values of their vehicles to retain hope that the market will “pick up where we left off” after the COVID-19 coronavirus crisis.
Cazana has launched KeyworkerGarages.co.uk, an online aftersales portal designed to guide frontline workers to maintain their vehicles and stay mobile during the COVID-19 coronavirus outbreak.
Used car dealers had begun to reduce the value of their forecourt stock as the UK transitioned from normal trading into a Government-imposed COVID-19 coronavirus lockdown, according to Cazana.
The new car market will decline 1.5% by volume in 2020 as consumer confidence and vehicle emissions regulation continue to play key roles, Cazana’s latest market update has predicted.
With 50% of motorists unable to pay a £500 repair bill and 83% a bill for £1,000, a solution that tackles this for dealers and consumers will have an impact.
January’s usual flurry of new car discounts appear to have failed to generate the “boost in fortunes” usually delivered by the first month of the new year, according to Rupert Pontin, director of insight at Cazana.
The announcement that the UK government is bringing forward the final date for the sale of fossil fuel powered vehicles to 2035 is without a doubt a laudable commitment.
Car dealers may experience a used car sales performance blip after voters head to the polls for today’s General Election 2019 but the sector is “performing pretty well” in challenging times, according to Cazana.
October has been a volatile month politically and economically with warnings around future investment in the UK and the viability of running certain business types amid major UK business failures in the retail sector.
While consumer confidence seems to have improved during the key number plate change month of September efforts to prop up ailing new car sales seem to be hampering parts of the used car market.
A team of intrepid drivers from Cazana are preparing to take on an epic London to Lands End charity challenge in the firm’s company mascot microcar, Bamby.
August delivered evidence of significant pre-registration driven by the requirement for market share and the need to register WLTP cars in the face of the arrival of RDE2 legislation.
July 2019 brought with it much discussion around the decline in used car performance despite a level of decline which will remain a moot point.
Tom Wood, the chief executive of the car-checking and valuation company Cazana, explains why data is the answer to dealers’ worries about economic uncertainty
Despite volatile alternative fuel vehicle (AFV) values and reports of significant decline across the sector, there is ‘no need' for car retailers to heavily write back stock values, according to Cazana.
