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.
Growing volumes of COVID-19 coronavirus lockdown used car sales have prompted Cap HPI to admit that the time is right for recommence valuation changes – and initial sales suggest a 2% to 5% decline.
Aging stock has been cited as the “main driver” of £1.6 billion losses incurred by Europe’s used car retail sector between the start of the COVID-19 coronavrius lockdown and mid-April.
The UK's used car market contracted by 8.3% in the first quarter of 2020 following a COVID-19 coronavirus lockdown-prompted 30.7% decline in March sales, SMMT data has revealed.
Cox Automotive has re-started Manheim's car auction operations via its online sales platform following “weeks of careful planning and implementation of the necessary safety measures”.
The easing of car retail COVID-19 coronavirus lockdown restrictions in Austria and Germany have delivered ‘no strong signs’ of a used car market bounce back, according to Indicata.
Following clarification on car dealers ability to trade in the COVID-19 coronavirus lockdown Cazana's director of insight, Rupert Pontin, asks whether 2020 used car demand could actually be higher than 2019.
In the life of every war correspondent that I have read about, from Marie Colvin to John Simpson, there has always come a time when they could no longer simply observe and report the tragedies unfolding around them, but were driven to participate and to influence what they were watching.
Trade and wholesale car sales delivered 3,500 vehicles into the used car market during April’s COVID-19 coronavirus lockdown automotive retail sector, according to Cap HPI.
While used car performance helped to deliver stable levels of profit and volume in 2019 there have been some signs of an early wobble in 2020 with pressure on petrol values in particular.
The automotive industry is starting to look beyond the end of lockdown and weigh-up what the short and medium-term impacts of the COVID-19 coronavirus crisis will be.
Car retailers must be ready for the challenge of stocking and selling cars while respecting consumer concerns and observing Government legislation after the COVID-19 coronavirus lockdown.
The high-demand for sub-£10,000 used cars seen in Q1 is expected to continue when the COVID-19 coronavirus lockdown is lifted, according to Aston Barclay.
Used car values have continued to fluctuate online despite calls from Cap HPI and Auto Trader to maintain a stable market through the postponement of changes amid the COVID-19 coronavirus lockdown.
Auto Trader has urged used car dealers to resist the temptation to reduce the values of their vehicles to retain hope that the market will “pick up where we left off” after the COVID-19 coronavirus crisis.
There is nothing in the current trade or retail data to suggest that used car values will crash due to the COVID-19 coronavirus lockdown period.
Auto Trader has launched a new AT Market Insight data tool which claims to utilise “up-to-date” information from the car retail sector to deliver an accurate appraisal of market conditions.
Used car dealers had begun to reduce the value of their forecourt stock as the UK transitioned from normal trading into a Government-imposed COVID-19 coronavirus lockdown, according to Cazana.
Used car values declined 2.2% in March as retail and trade demand fell due to the Covid-19 coronavirus crisis, according to Cap HPI.
