Premium cars defied the UK’s deepening cost-of-living crisis to dominate the Aston Barclay desirability index in early September.
Uncertainty surrounding the balance of supply and demand in the automotive sector has created the most difficult period ever to forecast used car value trends, according to Cap HPI.
Suggestions that the UK’s used cars vales are in steep decline are on the verge of a crash have been slammed as “sensationalist speculation” by Auto Trader.
The average price of used cars remained flat in August as stock volumes continued to dip and days to sell improved, research by eBay Motors Group has found.
The average cost of a used van or LCV sold in BCA's auctions during July was £10,220, a 4.2% rise month on month, as used car costs rose by 2.9% to £9,464.
A growing divide in the used car sector is seeing values decline among older vehicles in poorer condition as retailers remain ‘laser focussed’ on fast selling stock, BCA has said.
Car retailers are having to “work harder” to maintain sales as consumer demand begins to falter, Cap HPI has reported.
Subaru delivered a shock by surging to a second-placed ranking in Dealer Auction’s Retail Margin Monitor.
Holidays in the sun are being prioritised above car purchases ahead of a tough winter which is expected to see the UK slide into recession amid ongoing inflation, Cap HPI's Derren Martin has suggested.
Sub-two-year-old cars priced over £20,000 were the 'sweet spot' for dealers in July, according to the latest eBay Motors Group Market View.
Used car values remain “resilient” despite a 1.1% July dip in advertised values which represented a sixth consecutive month of retail price decline, according to eBay Motors.
Auto Trader has claimed that car retailers pricing their used car stock using “opinion” instead of live market data are losing almost £11,000 a month.
Cazoo’s acquisition of used car valuations data provider Cazana left a “gap in the market”, according to its former vice president of insight and analytics Rupert Pontin.
The battery health of electric vehicles (EV) “must” join age and mileage as a key used car valuation metric, but new legislation might be required, it has been claimed.
Wholesale used car values rose by 8.8% month-on-month at BCA auctions across the UK during June as the remarketing giant recorded its first price growth of 2022.
Vauxhall’s zero-emissions Corsa-e hatchback has emerged as the most desirable’ car at Aston Barclay auctions as EVs and premium cars attract the most attention from buyers.
Despite signs that the UK’s cost-of-living crisis is starting to impact the value of older vehicles, there are no signs of prices “crashing” in the used car sector, Cap HPI’s director of valuations has told AM.
The average retail price of a used car has grown for the 27th consecutive month, reaching £17,252 in June, up 41.5% on June 2019.
The average age and mileage of used cars at auction has continued to rise in the second quarter of 2022, according to Autorola.
Used car sales slowed as the average price of a car advertised for sale declined by 4.7% in Q2 according to eBays Motors data which showed the impact of the UK’s growing cost-of-living crisis.
