Part-exchange vehicles posted strong performance at auction during March to deliver a boost to car dealers at the end of Q1, according to new figures from Cox Automotive.
Cox Automotive has said that sales of used diesel vehicles have continued to contrast those of new diesel cars, despite a year-on-year price rise less than a third of those attracted by petrol counterparts.
Cox Automotive has enjoyed a year of growth, driven by demand for its online businesses.
Cox Automotive reported a strong end to 2017 as average used car prices rose across its Manheim auctions, Dealer Auction, NextGear Capital and Motors.co.uk businesses.
Cox Automotive has reported "great stability" in the used car sector during the last quarter of 2017, suggesting that car supermarkets will help to drive things forwards into 2018.
Manheim’s average used car price rose by 16% in September as Cox Automotive’s wholesale and retail businesses ride a wave of “higher quality and of lower mileage” stock.
Operators of the Dealer Auction trade-to-trade online auction platform have been celebrating after it passed a lifetime sales milestone of £1bn in July.
Integration of Dealer-Auction.com and Motors.co.uk will enable dealers to rapidly list newly bought stock, according to Cox Automotive.
The average selling price of diesel cars in May remained stable year-on-year, according to Dealer Auction.
Cox Automotive’s wholesale and retail brands saw a year-on-year increase in sold volumes in May, with selling prices up across the board.
Trade-to-trade online auction Dealer Auction is on course to sell over 80,000 part-exchange cars this year – a 13-fold increase in eight years.
Average used car selling prices increased in March, fuelled by high buyer activity, according to Cox Automotive brands.
Cox Automotive has reported strong used car market in February, with average selling prices delivering year-on-year rises in both the wholesale and retail markets.
Dealer Auction, the UK trade only online vehicle auction, has introduced video functionality for dealers to use with part-exchange stock listings.
