The growth in used car retail prices reached its lowest point since August 2017 as online enquiries reflected a surge in interest in electric vehicles (EVs) and hybrid vehicles, according to the Auto Trader Retail Price Index.
Franchised dealers sold used cars faster than independents in October 2018, although they carried 40% more stock, according to the latest figures from Motors.co.uk.
Motorists' increasing use of underhand tactics to ensure the residual value of their vehicles has led to a record number of clocked cars on UK roads, according to data published by the Local Government Association (LGA).
The British Independent Motor Trade Association (BIMTA) has claimed that as trend towards rising wholesale used car values has been compounded by the UK market’s biggest vehicle export drive in more than 20 years.
Startline Motor Finance has warned that an uplift in used vehicle prices prompted by WLTP-sparked new car shortages “will not resolve quickly”.
BuyaCar.co.uk has hailed the simplicity, fairness and transparency of online retail as the key to its 53% used car sales growth in Q3 2018.
Vertu Motors’ Vertu Specialist Cars operation has four new recruits to its premium car showroom in Newcastle.
Luscombe Motors will expand its used car operations and could be set to introduce a third franchise following the acquisition of a “blank canvas” site which adds 50% more retail space for the business.
Car retailers are preparing to accelerate their investment in used car sales for as the sector shows “no signs of slowing in Q3”, according to a survey carried out by Manheim.
Cartime has begun the transformation of a former Aldi supermarket in Rochdale to create its latest used car showroom.
Used car sales in the UK reached near record highs in the period July to September.
Shoreham Vehicle Auctions (SVA) has called for south coast used vehicle dealers to donate any unwanted running vehicles or part-exchanges to its charity auction for The Chestnut Tree House.
Millennials are the most likely car buying age group to have their purchase effected by the uncertainty surrounding Brexit, with many opting for cheaper used cars
Cox Automotive has reported 6.3% increase in used car volumes coming through Manheim auction sites during October as retailers battled for stock amid new vehicle supply shortages.
Auto Trader has reported a 7% increase in revenues and a 10% rise in operating profits in its half-year financial results for the six months to September 30.
Aston Barclay raised £1,400 for the Royal British Legion in a Remembrance Day sale at Donnington Park.
Accountancy firm MHA MacIntyre Hudson will refer its motor sector clients and network to Cazana for vehicle valuation services.
Car sharing marketplace Turo claims to have launched the “Airbnb of cars” in the UK and claims it will help UK car owners earn more than £6,000 a year from their idle vehicles.
A choking of new vehicle supply to dealers’ showrooms triggered by the September introduction of WLTP will continue to drive a buoyant used car market into 2019, according to Cazana.
BCA has attributed a 1% slip in used car values during October to a shift in model mix amid increased volumes of ex-fleet and dealer part-exchange vehicles at auction during the month.
