Used car prices remain at all-time highs and retailers have been told they will have to "buy smarter" to remain competitive as the trend continues into 2022.
As certain used cars were hit by “significant price decreases” in November Cox Automotive has asserted that prices will never dip back to pre-pandemic levels.
MPVs continued to star in Auto Trader’s top ten ranking of the used car market’s most appreciating vehicles, with the Seat Alhambra emerging as number one in November.
The UK’s used car price rises are the highest in Europe, according to new data published by Indicata.
An 80th consecutive week of increasing used car values and the highest level of UK inflation for a decade is unlikely to temper consumers’ appetite to buy a new vehicle, Auto Trader has said.
Used car dealers are still under-pricing up to 60% of their forecourt stock, according to data published by Real Time Communications (RTC).
Auto Trader has reported that the average price of a used car has risen by £3,000 since May as the imbalance of consumer demand and vehicle supply shows no sign of abating.
Car buyers’ brand loyalty is “vaporising” in a “pressure cooker” of high demand and stalled new vehicle supplies causing lengthy delivery times, new research shows.
Car dealers’ used car stock levels were 9.4% down year-on-year last month and 16.5% down on September 2019, according to data published by Indicata.
The Motorway used car stocking portal has seen its vehicle sales grow 300% by value in Q3 after appreciating prices transformed the sector.
Aston Barclay has said the seasonality of the March and September-centric car retail market has been side-lined as supply shortages triggered 40% price rises in just nine months.
Autorola has reported a third consecutive quarterly rise in online used diesel prices as new car sales continue to fall.
Competition for used car stock continued to grow as used car retail values rose 21.4% in September to reach a new record high after 18 consecutive months of appreciation.
Record used car value increases in September have been hailed as a “black swan event” by Cap HPI, with head of valuations Derren Martin describing the seventh consecutive month of rising prices as “extraordinary”.
Used car values are likely to rise to “another new level that once didn’t seem possible” according to BCA chief operating officer Stuart Pearson.
Cashflow is quickly becoming king as larger car dealers and used car supermarkets pay well above market valuations to secure used car stock, according to Shoreham Vehicle Auctions (SVA) managing director Alex Wright.
Used car prices rose by 16.6% during the first eight months of 2021 as an imbalance between supply and demand dictates that customers will “clamour for whatever stock they can get their hands on”.
More than one-in-10 nearly new used cars are now more expensive than their brand new equivalents as limited supplies and soaring demand delivered an 18.6% year-on-year rise in values.
New research by Moneybarn has revealed the 'best' and 'worst' cities in the UK to purchase a used car.
Record used car prices are not deterring new car buyers from switching into a used alternative to avoid the lengthy lead times triggered by supply shortages, according to Auto Trader.
