Used car sales surged by 19.4% last week as strengthening consumer confidence delivered strong online leads and “a consistent level of footfall at retailer showrooms”, according Cazana.
The average selling price of a used van has remained above £10,000 for the second consecutive month, at Manheim auctions.
Cox Automotive has warned car retailers to brace themselves for a tough September and Q4 as the new EU trade agreement, a logistics “wages war” and evolving consumer habits present further uncertainty.
Used car sales rose 351.4% to a near record 2.17 million sales during Q2 of 2021 as new vehicle supply shortages drove increasing volumes of motorists into pre-owned models.
Car buyers have been faced with a 14.1% increase in the price of the average car advertised on Auto Trader during July.
Used car buyers who paused their purchase to focus their attention on England’s route through the European football championships may have triggered a 26.8% boost to retail sales last week.
Strong levels of consumer demand in the market is continuing to drive used car price growth on Auto Trader, according to its latest data.
Cox Automotive has downgraded its 2021 new car registrations forecast by 2.48% amid expectations that vehicle supply issues will leave Q3 deliveries down 17.7% on the 10-year average.
Used car supermarkets sold vehicles almost twice as fast as their independent counterparts as they cut retail prices to drive sales in June.
An 11.1% June uptick in used car prices on Auto Trader suggests that dealers have been making efforts to realign their advertising to accommodate recent months’ wholesale price surge.
BCA has questioned “sensationalist” media coverage of used car price growth, arguing that wholesale values have only seen subtle changes.
Marshall Motor Group chief executive Daksh Gupta has given an insight into how the AM100 PLC will continue to adapt to the changing car retail market after a “pretty special” start to 2021.
Used car dealers have been urged to remember that consumers ultimately dictate the price a car can be sold at as wholesale values continue to place pressure on stocking levels.
Car retailers will be locked into a strategy of “retaining profit margins at all cost” as vehicle supply issues continue into 2022, according to Cox Automotive.
May’s used car sales volumes were 14% ahead of the same period in the pre-COVID trading period of 2019, according to data from Auto Trader.
Franchised car retailers and their manufacturer partners have been warned that they are at risk of losing the battle for the used car market as emerging online disruptors assert dominance in stock acquisition.
Aston Barclay has released its June used car desirability index with SUVs remaining the most in demand used car with UK buyers.
Retailers are failing to keep pace with rapidly increasing used car values and selling one in four cars too cheaply, according to Indicata.
A ‘record’ 73 million visits on Auto Trader in May was accompanied by an 8.1% year-on-year (YoY) increase in the average price of a used car.
Aston Barclay has ranked the UK’s 25 most desirable used cars to showcase the capabilities of its new desirability index.
