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.
Used car retailers have been warned of an electric vehicle (EV) overpricing issue once again after diesel-powered vehicles sold fastest in January.
Used car values declined by 2.1% during October and have seen a 2% dip so far in November but there is "no cause for alarm", according to Cap HPI.
Indicata has advised used car retailers to reprice and sell overage used car stock “immediately” as part of efforts to get on the front foot ahead of an anticipated easing of COVID-19 trading restrictions in the New Year.
Sales in the used car retail sector showed signs of “cooling off” according to a market report which revealed declining in activity during August – with retail sales down 3.3% year-on-year.
Vehicles aged over six years helped UK car retailers drive a 3.7% increase in post lockdown used car sales during June, according to analysis by Indicata.
A post-lockdown surge in used car sales activity has put retailers ahead of the same period in 2019, according to data gathered by Indicata.
The easing of car retail COVID-19 coronavirus lockdown restrictions in Austria and Germany have delivered ‘no strong signs’ of a used car market bounce back, according to Indicata.
INDICATA has highlight the effects of the COVID-19 coronavirus on Europe's used car market with the publication of its new Market Watch data report.
UK car buyers have Europe’s strongest appetite for used diesel cars according to stock turn data published by Indicata this week.
UK motorists realised their love of SUVs last year as the segment led Indicata’s monthly fastest-selling cars rankings for nine out of 12 months.
Glyn Hopkin claims to have halved its used car days in stock within 30 days after rolling out a new group-wide focus on ageing stock and introducing new pricing parameters.
Small SUVs dominated October’s fastest selling used car rankings as the Audi Q3 led the pack, according to data published by Indicata.
The Mercedes-Benz E-Class was the fastest-selling used car in September with the highest average price recorded so far in 2019, according to Indicata.
Car retailers saw their used car stock turn speed up as an influx of pre-registered cars onto their forecourts led to the swift sale of nearly new vehicles, according to Indicata.
The Mercedes-Benz A Class hatchback disrupted the recent dominance of SUVs in Indicata’s monthly fastest-selling cars rankings during July.
Petrol powered vehicles dominated Indicata's monthly rankings of the UK's fastest-selling used cars during June.
Hyundai’s petrol-powered Tucson SUV was the UK’s fastest selling used car for a third consecutive month as it was joined at the top of the fast-turn rankings by Vauxhall’s Crossland X during May.
The fastest selling used cars in April were petrol models as demand for the fuel outweighed that of diesel for the first time, according to Indicata.
Used Hyundai Tucsons left dealer forecourts faster than any other car in March, according to a new report from Indicata.
