Plunging residual values in the electric vehicle (EV) market are creating substantial financial challenges for leasing companies, manufacturers, and customers alike, according to Auto Data Solutions (ADS) which is warning of a prolonged impact on the sector.
Lex Autolease has reported a staggering drop in pre-tax profits of over £400 million, according to newly-filed accounts.
The leasing sector is increasingly turning to used car leasing to adapt to volatility in the electric vehicle (EV) market.
Chet Patel has been appointed as a new key account manager for cap hpi’s OEM consulting team.
Declining values among older, more affordable used cars could be an indicator that the market is set to dip after March delivered another decrease in average vehicle prices, according to Cap HPI.
Used car price growth accelerated to 2.3% year-on-year in a market that Auto Trader has asserted is in “robust health”.
Used electric vehicle (EV) values have continued to decline as falling values dent dealer confidence but boost affordability for car buyers looking to make the zero emissions transition, Cap HPI has said.
Tesla has risked further hit to used car residual values and increases to monthly finance payments with further price cuts to certain models in its electric vehicle (EV) line up.
A festive rush to stock petrol and diesel cars triggered 25% sales growth at UK auctions as consumers cooled on the idea of buying a pre-owned electric vehicle (EV).
Tesla has triggered "ill-feeling" among customers and cranked-up pressure on residual values with the decision to slash its elelctric vehicle (EV) prices across the US and Europe.
Car retailers will need to brush up their knowledge of car manufacturers’ advances in electric vehicle (EV) battery technology advances to avoid a slump in value set to impact so-called ‘black cars’.
Used LCV values rose during November at BCA as demand grew steadily for vehicles to service the online and home delivery sector in the run-up to Christmas.
Toyota and Lexus will drive franchisees' aftersales customer retention by extending the warranty on its cars to 10 years and 100,000 miles through its new service-activated Relax scheme.
Used car values have reached a “tipping point” with prices rising for the first time in five months as an easing of COVID-19 ‘Lockdown 3’ retail restrictions draw nearer, says Cap HPI.
Cap HPI has said that the leadership of its UK car valuations team will remain “in exclennt hands” following the retirement of its head of forecast, Andrew Mee.
Average retail used car prices on Auto Trader recorded the largest ever monthly price increase in September - increasing by 7.6% to £13,829.
The combined challenges of the coronavirus pandemic and Brexit are making long-term planning almost impossible in the remarketing sector.
Strong growth in average used car prices has continued into August based on data from the 12,500 retailers currently advertising on Auto Trader.
Cazana, the vehicle data company, has confirmed that used car pricing has not raced to the bottom during lockdown.
Car retailers have been urged to “hold their nerve” and not rush to liquidate stock ahead of an anticipated rise in sales demand following June 1’s re-opening of car showrooms across the UK.
