The used car market has been enjoying stellar growth over the past two years as demand has outstripped supply; there has been a lack of new vehicle availability and more buyers are willing to pay a premium.
With retailers operating in an increasingly challenging used car environment where stock is in short supply and prices are continually adjusting, it has become even more imperative to price used vehicles correctly to both maximise margins and maintain stock turn.
In a used car market starved of supply vehicle acquisition has become the boom industry, with retailers launching their own car buying platforms to rival third-party providers.
There are now more avenues for car dealerships to sell their vehicles than ever before but has the part-exchange process truly embraced the transparency of a truly omnichannel customer journey?
Dealer attitudes suggest a level of uncertainty about a 2022 car retail market increasingly defined by vehicle availability, the transition to electric vehicles (EV) and moves from manufacturers towards an agency franchise model.
A rapid rate of stock turn has traditionally been a sure-fire way for car dealerships to maximise their used car profits and forecourt space.
Clive Brook Group, Drive Motor Retail, Hendy Group, Inchcape Retail and Jemca Motor Group have all ramped-up their acquisition of private used car stock in 2021.
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.
When Michael Bell took the chief executive’s chair of the family business, Available Car, in 2019, he could never have anticipated quite the baptism of fire that was coming.
Demand for used hybrid cars has risen in the last quarter, pushing wholesale prices up by 18.7% to an average of £17,591.
Valuation experts and AM100 retailers have conceded that they do not know when this year’s “unprecedented” used car price rises will end.
Following the cinch platform's re-launch as an online car retail rival to the likes of Cazoo and carzam, AM Magazine's Tom Sharpe sat down with retail director, Jason Cranswick, to learn more about its new direction.
BCA has been met with a backlash from car dealers following its decision to relaunch its cinch marketing platform as an online car retailer perceived to be in direct competition with its traditional remarketing customers.
Used car dealers have a wide range of approaches to prepping cars, but taking the time to do it properly leads to greater efficiency overall.
The UK’s top 50 independent dealers added £300 million to total revenues for 2015, but year-on-year growth has fallen to 9% from 24% last year.
The Car People has streamlined and is entering an ‘aggressive period of growth’, say managing director Martyn Carnell and director of sales Jonathan Allbones.
Customers’ faith in its product and a doubling of its sales capacity are key to Carbase’s ability to ‘deal on the day’, says general manager Gordon Veale.
