Cazana director of valuations Rupert Pontin has claimed that its data suggests there is ‘no evidence’ to support suggestions of a significant decline in used car values in recent months.
Traditionally the used car market in April is buoyant and there are plenty of retail buyers on the forecourt but that has not been the case in 2019.
The used car market in March was a story of two halves and market sentiment would appear to suggest that the retail consumers were more fickle than they have been for some time, according to Cazana director of valuations Rupert Pontin.
Cazana has closed its latest round of crowdfunding at £1.56 million, nearly 160% of its original investment target to embark on global expansion plans.
February has not served to install car retailers’ used vehicle operations as “the shining star” in their business in recent months and news of HMRC VAT reforms will only make life tougher, according to Cazana.
A lack of “good quality and desirable stock” has not been enough to stall rising used car prices as demand from consumers defies the uncertainty caused by Brexit, according to Cazana.
In the wake of the Society of Motor Manufacturers and Trader’s fully-year 2018 new car registration figures, Cazana valuations director, Rupert Pontin, delivers his market analysis for December, 2018.
November’s new car registration figures may be an indicator that the market is started to “rebalance itself” but market forces continue to favour used car retail, according to Cazana.
Accountancy firm MHA MacIntyre Hudson will refer its motor sector clients and network to Cazana for vehicle valuation services.
A choking of new vehicle supply to dealers’ showrooms triggered by the September introduction of WLTP will continue to drive a buoyant used car market into 2019, according to Cazana.
New car registration data released by the Society of Motor Manufacturers and Traders (SMMT) for September saw a quantum shift from the August return that saw such an uplift in registrations.
The Financial Ombudsman Service has adopted Cazana’s vehicle valuations in order to assess the value of written-off vehicles.
Cazana has acquired classic car classifieds site carandclassic.co.uk, providing it with 20 years of historic pricing data.
The Vehicle Remarking Association will ask whether 2019 will be “the year of the used van” when it hosts members at Manheim’s Bruntingthorpe auction site next week.
There is little doubt the outstanding weather had a part to play in the more difficult trading conditions. Economic concerns have also played a significant.
June 2018 has been a good month for the retail used car market although trading conditions appear to have been harder thanks to the weather and the World Cup.
Cazana has announced its first US remarketing partnership with the Robinson Advisory as it takes the first steps towards an expansion across the Atlantic.
The May new car registration data released on June 5 paints a marginally better picture of the market with overall volumes showing an increase of 3.4% over May 2017.
The new and used car markets can be a bit of a challenge during the month of April with plenty of distraction for the retail consumer often leading to a patchy month in terms of both demand and sales.
Private new car registrations were April’s highlight as the new car market starts to show signs of “balance” but diesel car prices have faltered in the used car sector, according to Cazana.
