Soaring wholesale used car prices are “not recoverable” through retail price rises, creating an environment of ever-shrinking margins.
Used car prices have risen by 6.7% during May as “amazingly strong” demand resulted in “unprecedented times” for the sector.
Car retail valuations and insight specialist Cazana has rolled-out a rebranded logo and new website as part of its drive towards “global expansion”.
Used car price growth has accelerated significantly, according to Auto Trader, following the reopening of showrooms last month.
Used car prices are soaring as car retailers report demand so strong that the “can’t stock the forecourt fast enough” – and supply shortages look to continue the trend.
A dog and a set of false teeth feature among Motorpoint’s top ten ranking of the most unusual things to be left inside vehicles by customers trading-in a car as a part-exchange.
A 36% April surge in online traffic from used car buyers was accompanied by a 7.1% year-on-year rise in advertised vehicle values on Auto Trader.
Used car prices at auction have risen by up to 8% in the last two weeks since showrooms were able to re-open.
BCA has revealed that used car values rose by an average of 15.8% as traders’ stocking demands ramped-up in the week of the April 12 reopening of showrooms in England and Wales.
Auction companies are predicting that values for used petrol and diesel cars will remain strong as the country emerges from lockdown and consumer confidence improves.
Demand for used diesel cars drove prices to record hights during the first quarter of 2021, according to Autorola.
Auto Trader has said it expects the UK’s car retail sector to deliver a “fast return to health” after seeing a 12th consecutive month of rising used car prices and record online engagement from buyers in March.
Used car values have reached a “tipping point” with prices rising for the first time in five months as an easing of COVID-19 ‘Lockdown 3’ retail restrictions draw nearer, says Cap HPI.
Growth in the value of used cars is beginning to stabilise despite signs of an acceleration in demand from consumers as the easing of COVID-19 ‘Lockdown 3’ draws nearer, according to Auto Trader.
The average list price of a used car increased by 1.5% in February, climbing from £12,370 to £12,558, according to eBay Motors Group.
Cap HPI has said that a realignment of used car price values was “always likely” after it reported a fifth consecutive month of declining vehicle prices across the sector.
Auto Trader has said that January’s 7.4% rise in used car values has given it “confidence we’ll see a quick return to health” as COVID-19 ‘Lockdown 3’ restrictions start to ease.
A slowdown in consumers’ car buying activity and uncertainty when the current COVID-19 ‘Lockdown 3’ restrictions will end was the catalyst for a fall in used car trade prices in January.
Auto Trader has once again renewed its call for car retailers to “hold firm with their prices” amid optimism that pricing will remain strong in Q1 – despite the showroom closures of COVID-19 ‘Lockdown 3’
Used electric vehicles (EV) appear to have fallen out of favour with car buyers struggling to justify their cost in comparison to petrol and diesel alternatives, according to Autorola.
