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.
The growth in used car retail prices reached its lowest point since August 2017 as online enquiries reflected a surge in interest in electric vehicles (EVs) and hybrid vehicles, according to the Auto Trader Retail Price Index.
A combination of collapsing new car registrations and WLTP’s effects on fleets and leasing companies is hitting used car supply and driving record wholesale prices
Cox Automotive has reported 6.3% increase in used car volumes coming through Manheim auction sites during October as retailers battled for stock amid new vehicle supply shortages.
A choking of new vehicle supply to dealers’ showrooms triggered by the September introduction of WLTP will continue to drive a buoyant used car market into 2019, according to Cazana.
Used vehicle values are being artificially inflated as competition hots up amongst buyers for nearly new and ex-fleet stock amid WLTP-related new car shortages, according to Shoreham Vehicle Auctions (SVA).
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.
Car dealers reported an 11% increase in used car sales during September as the average value of each sale declined by 8%, according to EnquiryMAX.
Trade prices for used cars have reached such a high level that dealers relying on finance and insurance (F&I) for profitability, the Vehicle Remarketing Association (RMA) has said.
Used electric vehicles (EV) rose in value during September despite static performance elsewhere in the sector, according to research from Cap HPI.
The average price of a used car offered for sale on Auto Trader declined by 1% during August as interest in electric and hybrid cars grew, the online retail platform has revealed.
Used car prices reached their second-highest level on record at BCA auctions during August, with average values rising by 2.4% to £9,697.
Premium car brands saw slower price growth in the used car sector during July as the effects of an “aggressive” battle for market share began to take hold, Auto Trader has suggested.
Lower than usual car registrations numbers due to the switch to the WLTP vehicle emissions tests could see an increased number of car buyers invest in nearly-new alternatives, Cap HPI has said.
Used car prices rose 8.8% month-on-month and 8.1% year-on-year at auction houses across the UK during July despite a lower first-time conversion rate indicating a greater level of available stock, NAMA has reported.
Cox Automotive has reported signs of a positive upturn in the used car market after a 7% rise in prices at its Manheim auction centres during July.
The used car market slowed in July, according to Cap HPI.
Average used diesel prices of cars sold on the Autorola online portal continued to rise in Q2, although there was a noticeable fall in volume.
Petrol is closing in on diesel as the most popular fuel type among UK car buyers, according to Auto Trader’s online search data.
Used car values at BCA auctions rose to their third highest level on record during June as nearly-new vehicle prices rose by 10.8% year-on-year.
