A team of intrepid drivers from Cazana are preparing to take on an epic London to Lands End charity challenge in the firm’s company mascot microcar, Bamby.
Cap HPI’s live used vehicle valuations have recorded their first average value growth figures for 18 months.
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.
I want to reflect on the turbulent journey used car prices have taken over the past 18 months and where we may expect them to go during the rest of this year.
August delivered evidence of significant pre-registration driven by the requirement for market share and the need to register WLTP cars in the face of the arrival of RDE2 legislation.
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.
Consumers looking to buy a 69-plate electric vehicle (EV) in September could be scuppered by a shortage of vehicles entering the market – leading to greater demand for used EVs.
BCA's wholesale used car market data for July shows drops in value for all market segments, with dealer part-exchange cars among the most affected.
The average asking price of a used car advertised via Auto Trader rose by 2.76% during July but the online marketplace said that the rate of value growth had declined for the first time since August 2012.
Used car values have dropped by a record 2.2% decline for July as the large executive and luxury executive cars fell out of favour with car buyers, Cap HPI has reported.
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.
The average price of a used car advertised via Auto Trader increased by 0.8% in May, despite ongoing reports of declining values.
Used car prices have continued to decline during June as a “realignment of values” impacts all vehicle sectors, according to Cap HPI.
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.
BCA chief operating officer Stuart Pearson has said that buoyant 2018 used car values may have created ‘unrealistic expectations’ among used car dealers after another year-on-year decline at its auctions.
Despite volatile alternative fuel vehicle (AFV) values and reports of significant decline across the sector, there is ‘no need' for car retailers to heavily write back stock values, according to Cazana.
Brexit is yet to have an impact on used car values in the UK according to Cap HPI’s latest analysis of the UK automotive sector.
Cazana director of valuations Rupert Pontin has claimed that its data suggests there is ‘no evidence’ to support suggestions of a significant decline in used car values in recent months.
Used car values have experienced their most severe May decline since Cap HPI’s records began in 2012 and the heaviest monthly drop since December 2014.
