A 0.5% fall in used values over the first nine days in May was observed at cars aged three years and 60,000 miles on the clock, according to the latest mid-month analysis from Cap HPI.
Matt Freeman, managing consultant at cap hpi consulting explores the rise in plug-in hybrid electric vehicles (PHEV) registrations.
The used car market could see up to 7.7 million transactions by year-end if trading continues at Q! pace, according to Cox Automotive’s latest forecast.
The Peugeot 208 is the UK’s fastest-selling used car, with petrol models up to 1 year-old taking an average of just 11 days to leave retailers’ forecourts
More than two thirds (68%) of dealers are finding it challenging to source the right stock at an affordable price
Jaguar has re-entered Dealer Auction’s top 10 brands for the first time since September, with an average retail margin of £3,300
MOTORS is tracking the market to see whether April’s rise is an early sign that consecutive monthly dips are halting and the market is heading for greater price stability.
Used car sales continued to soar in the first three months of 2024 with more stock than ever hitting the market due to sales of new cars picking up.
Private EV uptake remains sluggish leaving business buyers dominating the electric market, according to April figures from the UK car manufacturing industry which is now downgrading 2024 forecasts for all-electric cars due to falling expectations.
The scarcity of younger vehicles filtering into the used market is making its impact felt, according to first-quarter Dealer Auction figures.
Used electric vehicles were the only fuel type not to enjoy price growth with average prices dipping -0.4% MoM in April, according to Auto Trader,
Manufacturers could well start to abandon the UK to focus on other markets in response to highly challenging net zero targets, according to Cox Automotive.
Consumer appetite for brand new cars persisted into the second quarter
April saw average car values at the three-year, 60,000-mile point, fall by 1.5%, equivalent to around £300 as the market returns to seasonal norms.
Making the next generation of cars contributed largely to UK car production dipping -27.1% year on year to 59,467 units in March
The body representing UK dealerships has admitted to being disappointed that the Government has largely ignored industry calls to introduce price incentives for buyers of EVs.
Eight out of 10 (79%) motorists say they would rather have buttons for major controls in their car rather than a big, central touchscreen, new research shows
The UK Government has reiterated it is "committed to keeping the transition to electric vehicles affordable" in a response to members of the House of Lords who have been urging it to do more to ease motorists concerns about a future driving EVs to reduce tailpipe emissions.
Dealers should ensure they have extra team members available to manage enquiries on Tuesdays
The UK car parc, the number of cars registered for UK roads, reached 35.7 million by the end of 2023, according to the Society of Motor Manufacturers' Motorparc database.
