‘High demand’ for petrol and diesel vehicles is continuing to drive the strength of the used car market, according to Cap HPI’s Derren Martin.
Used car supermarkets and franchised retailers responded to September’s sector stability to increase the value of their advertised vehicle stock by 1.5% and 1%, respectively.
Auto Trader is preparing to roll-out its used car valuations data to all its car retail customers as part of efforts to help them adapt to the “unpredictability” of the current trading climate.
Car retailers’ used car forecourts are unlikely to benefit from “significant volumes” of additional stock as a result of the sector’s seasonal September sales boost.
Land Rover dominated Dealer Auction’s August ranking of car brands and models offering the largest sales margin to car retailers.
Cox Automotive Europe has told car retailers to focus on “potential storms” ahead as they continue to balance limited vehicle supplies with faltering consumer demand.
The UK remains the only European country to experience a decline in used car values during 2022, according to Indicata.
A used car retailer has taken to his popular Tiktok account to tell car buyers that they need to scour private car sellers’ adverts on Auto Trader if they want to access the market’s cheapest vehicles.
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.
