Wages, recruitment and cost of living impact will have the biggest potential to impact dealership profit in 2024
The average value of a used car at 3yrs/60k has fallen again in December, but Cap HPI said seasonal norms are returning.
Dylan Setterfield, head of forecast strategy at cap hpi, explores what 2024 may hold following the market realignment at the end of 2023.
The average retail price of a used car in November was 3.8% lower than a year previously, Auto Trader data shows, marking the third consecutive month of retail price decline.
Cap hpi is calling on the industry to view values in real-time in a fast-moving market.
Online marketplace carwow has achieved its highest ever used car sale price with a Lamborghini Urus achieving £305,050 at auction.
At mid-September Cap HPI’s data showed the average value of a used car was down -1.1%, and its values experts are expecting the month-end drop to be another 2% overall, similarly to August’s outcome.
August’s average used car value is heading for a 2% drop, the largest yet this year, as the market “realignment” continues, says Cap HPI.
The AM News Show podcast recently welcomed Perrys managing director Darren Ardron and Cap HPI director of valuations Derren Martin to the studio
Used car values fell by 1.9% in July despite healthy wholesale activity, according to pricing experts at Cap HPI.
Used electric vehicle (EV) sales are outselling used diesels at less than two years old, according to Indicata’s latest data for June.
Aston Barclay has seen more signs the used EV sector is settling down in Q2 as prices fell by 1.4% (£329) to £22,100.
Hybrid cars became the UK’s second most popular used car fuel type in May behind petrol, according to Indicata’s latest data.
BCA has said the market for used EVs is improving after seeing the strongest performance for the segment in May, since the peak recorded last October.
New EU vehicle regulations could make battery state of health monitoring standard for all new electric vehicles, according to OZEV.
Used car prices declined by 1% during April as Easter holidays delivered a seasonal drop in demand, Cap HPI has reported.
The Fiat 500 city car’s consistently strong value as a used vehicle has secured it an historic overall win in Cap HPI’s first ever data-driven Used Car of the Year Awards.
The used car market’s supply of electric vehicles (EV) has fallen 59.1% (100 days) in 2023 thanks to a reduction in prices, according to Indicata UK’s latest Market Watch report.
Auto Trader has called for incentives and tax breaks to make electric vehicles (EV) more affordable and put the UK Government’s plan to ban pure petrol and diesel vehicles by 2030 “back on track”.
Used cars ended Q1 with a third successive month of rising values at BCA auctions after what chief operating officer Stuart Pearson described as a “very encouraging start to 2023”.
