The used car market remained steady in November, with average values at £7,345 across the board at auctio house BCA.
Customers take on average 87 days before deciding, making early engagement with potential buyers essential for driving January sales.
Car supermarkets ramped up their efforts to boost profitability in November by increasing their inventory levels and prioritising younger vehicles, according to Motors’s Market View.
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.
The UK used car market is projected to see only modest growth in the coming years, with transactions expected to rise to just under 7.9 million by 2027.
Drivers are increasingly prioritising data security when selecting garages for servicing and repairs, according to the findings of a new survey from Digidentity.
The UK car market is expected to hit its peak in terms of petrol vehicle numbers in 2024 although the industry continues to grapple with the the post-pandemic shortage of nearly 3 million cars not sold during that period, stricter Zero Emission Vehicle (ZEV) targets, rising competition from new brands and models - all at a time of lacklustre appetite for electric vehicles (EV).
Dealers have largely welcomed a range of measures from last week’s Budget, viewing them as beneficial for the used car market.
The used car market in the UK is set to close 2024 on a high note, with strong demand and stabilising prices, according to Auto Trader’s Retail Price Index.
Hendy Group has launched "Hendy Buy Any Car," a car-buying service aimed at providing a straightforward, user-friendly platform for people across southern England to sell their used vehicles at a fair market value.
The used car market has experienced remarkable growth over the past year, with the latest data from Marketcheck showing a 21% rise in listings since September 2023.
The Vehicle Remarketing Association (VRA) is warning that the current health of the used car market could rapidly deteriorate in the last quarter of 2024, due to several emerging issues.
Used car marketplace Motorway has reported significant growth in revenue and a reduction in operating losses.
The Land Rover Discovery Sport continues to reign supreme in the used car market, marking its sixth straight month as the most profitable vehicle, according to Dealer Auction’s Retail Margin Monitor for August.
The government needs to take immediate action to prevent further instability in the used electric vehicle (EV) market which is undermining confidence in the transition to electric cars and driving up the cost of new EVs.
Startline Motor Finance has launched its first-ever funding options for used electric cars, signalling a significant vote of confidence in the stability of the used electric vehicle (EV) market.
Demand for used cars remained robust in August, with dealers experiencing quicker sales and steady prices, according to Motors’ latest Market View report.
Retail prices for used cars exceeded seasonal expectations in August, driven by robust consumer demand in the market, according to the latest data from Auto Trader.
Strong wholesale demand supported used car values in August as the average value movement fell by just 0.6% at the three-year age point, according to experts at Cap HPI.
City Auction Group is developing a new 28-acre site to house its logistics headquarters and expand its capacity with a further 5,000 vehicles, across defleet, logistics and secure storage, for launch in September.
