Auto Trader has reported a 19th straight week of used car price rises with a 7.4% mid-September increase in the average advertised value on a vehicle offered on its online marketing platform.
Sales in the used car retail sector showed signs of “cooling off” according to a market report which revealed declining in activity during August – with retail sales down 3.3% year-on-year.
Premium used cars have been hailed as “pandemic proof” by online vehicle stocking source Motorway after the value of Land Rovers, Lexus and Maseratis rose by over 8% year-on-year.
Used car values showed little sign of an impending “market correction” as prices rose by an average of 0.2% across the sector during August, Cap HPI has reported.
Strong growth in average used car prices has continued into August based on data from the 12,500 retailers currently advertising on Auto Trader.
Cox Automotive’s monthly Dealer Sentiment Survey has found that more than a third (37%) of UK car dealers are stocking older vehicles in the wake of COVID-19 lockdown.
Car dealers’ used vehicle stock levels have declined by 30% as post-lockdown demand among buyers leaves businesses “grappling” with the challenge of securing fresh product for their forecourts.
Motorway is providing free vehicle collection worth up to £500 for new dealers, to celebrate hitting the milestone of £1.6m in daily sales.
Used car prices showed their largest monthly price rise for two years on Auto Trader during July, with values rising 4.6% amid signs that consumer demand is continuing to grow.
Used car values rose by 0.4% during July as automotive retail's lockdown recovery delivered the month’s first price rise since 2009, Cap HPI has reported.
The COVID-19 pandemic has brought about a reduction in global emissions as the economy slowed and vehicles were kept off the roads during lockdown.
Aston Barclay has said that a surge in demand for used cars stock has seen value rise to its records highest ever level for a Q2 period – with older cars and diesel vehicles leading the way.
The Kia Sportage SUV is the UK's most in-demand used car, according to the results of research conducted by ChooseMyCar.
Vehicles aged over six years helped UK car retailers drive a 3.7% increase in post lockdown used car sales during June, according to analysis by Indicata.
Following a swift transition by car retailers from the COVID-19 lockdown to “the new normal” new car registrations got back on track for UK businesses in June.
June delivered its first rise in used car values since 2009 in a two-tier post-lockdown market defined by increased demand for older, cheaper vehicles, according to Cap HPI.
Motorway has celebrated its delivery of record volumes of used car stock to the UK’s motor retailers post-lockdown – with £1.39m of sales completed in a single day last week.
Cazana, the vehicle data company, has confirmed that used car pricing has not raced to the bottom during lockdown.
Large numbers of de-fleeted vehicles, postponed PCP returns and terminated PCP agreements caused by Covid-19 will cause a negative ripple effect on car values, according to Automotive Services International (ASI).
Cazana has reported that demand for used cars during the COVID-19 lockdown may have outstripped the 20% of sales transactions which were completed during the period.
