Dealer part exchanges saw a “healthy rise in prices” on the back of strong consumer demand and restricted supplies of older used cars caused by industry scrappage deals, according to Aston Barclay.
Car dealers have almost doubled the number of valuations carried out via smartphone during the past year, according to new market data from Cap HPI.
MP swaps The Houses of Parliament for car auction house Member of Parliament The Rt Hon Sir Oliver Heald QC MP swapped The Houses of Parliament for the auction house with a visit to Letchworth Motor Auctions. Heald visited the auction group’s Hertfordshire facility as part of a fact-finding opportunity organised by the National Association of Motor Auctions (NAMA) member. The MP for North East Hertfordshire, was keen to take up the offer of a site visit as part of a bid to gain a better understanding of how motor auctions are operated and see the employment and business opportunities available in the sector. NAMA said in a statement “It was also an opportunity for him to see the significance of the site to the local economy”. Louise Wallis, head of NAMA, was on hand to highlight to Sir Oliver Heald a number of industry issues, including Brexit, the changing legislation and consumer approaches to diesel-fuelled vehicles, mileage fraud and debit card charges which are costing the industry almost £1.8 million a year. Wallis said: “The visit provided an opportunity for Sir Oliver Heald to find out more about the Letchworth Motor Auctions, and the importance of motor actions to the UK economy.”
Private new car registrations were April’s highlight as the new car market starts to show signs of “balance” but diesel car prices have faltered in the used car sector, according to Cazana.
NextGear Capital has provided £50million in stock funding to hundreds of UK dealers thanks to a partnership with Dealer Auction.
A third of drivers have postponed a new car purchase due to economic uncertainly, yet 82% are planning to purchase a new vehicle within the next three years.
Vertu Motors chief executive Robert Forrester has insisted that he is not under pressure from shareholders to deliver growth through acquisition after reporting reductions of 0.9% in turnover and 9.2% in profits in the group’s annual results.
Cooper Solutions has added electronic appraisal diagrams for vans and motorbikes to its FullAppraisal and FullAuction services.
Shoreham Vehicle Auctions (SVA) has launched the first used electric van training course for LCV dealers and fleet vendors, with the Energy Savings Trust.
Most consumers want a minimum of 12 months of warranty cover with a used car, research by RAC Dealer Network has revealed.
Audi’s Q5 was the fastest selling used car in March, taking an average of 19 days to leave forecourts.
Cazana has launched a vehicle valuation tool enabling dealers to make “instant price decisions” based on the current retail market.
Car dealers turning to the used vehicle market amid falling new car sales have sparked at 9.4% increase in prices at auction, according to data published by Cox Automotive.
Vospers has targeted greater aftersales efficiency from its £12m supersite which is scheduled to open in Exeter later this year.
Demand for used diesel vehicles has remained strong in March with SUVs leading the charge, according to Cap HPI.
City Auction Group has announced the renewal of a three-year remarketing contact with Santander Consumer Finance's Belfast facility.
Auto Trader has reported that online searches for diesel powered used cars stabilised in March as their price failed to keep pace with their petrol equivalents.
BCA has sold a million vehicles in the UK in one year for the first time in its history following a 1,000 vehicle BMW/Mini 'mega sale' at its Perry Barr remarketing centre.
Independent retailers offering PCP funding on used cars have an opportunity to grow their sales during 2018 but may be challenged by new contract hire companies, according to Adesa Remarketing.
The Shpock online marketplace has launched its new platform for car dealers with TV advertising campaign and the promise of access to over 700,000 monthly UK users.
