Additional used car stock is part of the 2019 business plan of 52% of car retailers during 2019 – as 65% target growth in the sector.
Auto Trader and Cox Automotive UK have completed the joint venture process to bring together their used car stocking platforms under a re-launched Dealer Auction business.
Tootle has expanded into online used car retail by establishing a platform which allows car dealers to retail as well as replenish their second-hand car stocks.
Increasing numbers of used car dealers are turning to the classifieds and lower grade stock as demand continues to outstrip supply, according to Manheim.
Supply constraints triggered by the introduction of WLTP have resulted in used car values that have defied the usual season trends, according to Cap HPI.
Hyundai’s Tucson SUV has emerged as Auto Trader’s fastest selling car for October after the 2015 diesel manual variant took an average of just 19 days to leave car dealer’s forecourts.
Fleets will continue to delay disposal of their vehicles until next spring as many await an end to the emissions taxation uncertainty surrounding WLTP, ADESA Remarketing has said.
Car retailers are preparing to accelerate their investment in used car sales for as the sector shows “no signs of slowing in Q3”, according to a survey carried out by Manheim.
Nextgear Capital has said that a used car stock funding is poised for further growth as dealers look to “boost their buying power” amid rising values and a rush for stock.
A race for vehicle refurbishing services could be sparked by used car stock shortages which are leading car dealers to downgrade the condition of stock they are buying to fill their forecourts, according to the Vehicle Remarketing Association.
Manheim has forecasted a buoyant end to 2018 for the used car market following an uplift in buyer activity during September - describing demand for the right stock as "supercharged".
Used car values fell by 5.4% at auction during September according to the National Association of Motor Auctions.
Auto Trader has reported that the average price of a used car offered for sales on a dealer forecourt reached a record high of £12,853 during September.
BCA has delivered further evidence of the soaring value of used vehicle stock for car dealers during September as average prices reached the highest level the remarketing specialist has ever recorded.
In-line with the recent prediction from the Met Office that the UK faces its coldest and harshest winter in a decade, buyer services manager – Alex Miles – at G3 Remarketing, offers his advice to dealers on how they can prepare their forecourts now.
Avis Car Rental UK will allow car dealers and trade buyers to purchase its de-fleeted vehicles via a new online sales portal developed in partnership with CD Auction Group.
NextGear Capital has announced the appointment of Amrit Singh to the role of finance director.
The founder of the Europe-wide used car stocking platform Auto1 has said that artificial intelligence will help it meet the needs of retailers from Walsall to Warsaw - and avoid the effects of an economic downturn.
Volkswagen Financial Services UK will offer car dealers the chance to buy discounted cars and vans via a new ‘Last Chance to Buy’ online auction set up in partnership with epyx.
Cox Automotive and Auto Trader have launched a joint venture to drive growth of the Dealer Auction automotive wholesale marketplace – promising car retailers a greater choice of vehicle stock.
