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.
Cox Automotive has seen “unseasonal dealer activity” towards the end of this year in the new car market ahead of a potential no-deal Brexit.
The UK Government’s ‘Lockdown 2’ COVID-19 mitigation measures in England contributed to a 22.1% decline in used cars sales during November, according to data from Indicata.
The average price of a used Land Rover has increased by 2% in the last month, with values up 4% year on year according to new data from Motorway.
Members of the National Association of Motor Auctions (NAMA) have told the organisation that it remains “business as usual” at their remarketing centres, despite the ongoing COVID-19 crisis.
The used car sector is showing continued good health in the face of COVID-19 ‘Lockdown 2’, according to Auto Trader.
Indicata has advised used car retailers to reprice and sell overage used car stock “immediately” as part of efforts to get on the front foot ahead of an anticipated easing of COVID-19 trading restrictions in the New Year.
A survey of in-market car buyers has found that 58% intend to go-ahead with their planned purchase within the next fortnight, despite the start of more stringent COVID-19 lockdown restrictions.
Car retailers have once again been urged to “hold firm” with their used vehicle pricing as the UK returns to COVID-19 lockdown this week.
Used car values have dropped for the first time since before March's COVID lockdown as motor retailers pushed back against high prices for cars, says Cap HPI.
Increasing competition for used car stock from private sellers has been revealed in Motorway data showing year-on-year growth in the valuations – with EVs showing a 34% increase.
Following a frantic September which saw car retailers fight to sustain the market’s COVID-19 recovery Cazana director of insights, Rupert Pontin, believes a volatile period of used car pricing trends lies ahead.
Auto Trader has reported its 23rd week of consecutive used car price rises as the sector continued to defy the impact of COVID with values up 8.5% between October 5 and 11.
Aston Barclay has reported that the “unstoppable” strength of the used car market might be about to soften after increased post-September supplies start to reach remarketing centres.
Motorway is offering car retailers 50% off broker fees on the first two purchases made through the Motorway Pro platform during October.
BCA’s average used car sale value at auction remained above £8,000 for a fourth consecutive month after values rose by 6.9% during strong September trading.
Demand for used diesel cars has driven average values up by 11.3% to the end of Q3 2020, outstripping increases among any other fuel type, according to Autrola market data.
Used car retailers saw their stock turn accelerate by 10 days in September as average advertised prices rose by 1.8%, eBay Motors has reported.
Average retail used car prices on Auto Trader recorded the largest ever monthly price increase in September - increasing by 7.6% to £13,829.
