Unseasonably low September used car stock levels drove “a super-heated wholesale market”, according to the latest Cox Automotive Market Tracker report.
The used car market will remain strong through the fourth quarter of 2019, says the National Association of Motor Auctions, after its latest market attitude survey.
Manheim has appointed Inchcape Retail’s Dean Ashworth and Kwik Fit’s John Fletcher as general managers of its auction centres in Colchester and Wimbledon.
The used car remarketing sector “continued to strengthen” during August as the average price of a vehicle sold via BCA rose 2.9% month-on-month.
Fluctuations in the value of used cars and the wider adoption of ever-faster remarketing platforms have driven the used car market to become more “complex and volatile” in 2019, Cap HPI has reported.
ADESA UK has appointed Manheim’s former head if IT, Kevin Nugen, to roll-out its own “intense digital roadmap”.
More than half of used car retailers reported that they had achieved the same or improved margins during August, according to a Cox Automotive Dealer Sentiment Survey.
Physical car auctions in the UK have remained fundamentally unchanged for decades.
Manheim has launched a QuickList Imagery used car imaging offer in a bid to help speed-up retailers’ online marketing efforts.
Aston Barclay has appointed former Manheim director Richard Cross as its new group sales director.
Conversion rates are expected to increase at the UK’s car auctions during August as the number of used cars entering the market struggles to meet the demand from car dealers.
HR Owen sold more than £1 million worth of vehicles in a single sale at BCA Blackbushe this month, a new record for the dealer group.
Aston Barclay beat competition from mobile phone provider 3 and Manchester United football club to be awarded the gold award for Best Mobile Strategy at the UK Digital Experience awards.
The volatility of used car values “started to ease” with a 2.2% average rise to £9,463 in June, according to the monthly BCA Pulse report.
Car dealers concerns about the roll-out of the new RDE2 Real Driving Emissions car testing standards in September are ‘unlikely’ to manifest themselves in a WLTP-like impact on the market, according to Cox Automotive.
Aston Barclay has appointed Karl Ward, previously remarketing manager at Ogilvie Fleet, as manager of its Wakefield ‘Northern Powerhouse’.
TDR Capital is in advanced talks to buy BCA Marketplace for £1.9bn.
Manheim has agreed a new five-year deal with used car supermarket operator Big Motoring World.
Car dealers have been called upon to end unnecessary used vehicle stock value losses of up to 5% by creating a centralised national service history database.
Wessex Garages’ Mazda Bristol dealership has installed an iPad offering customers access to The Car Buying Group (TCBG) valuations portal in a bid to speed up the part-exchange process.
