Used car prices have continued to climb, reaching the 34th month of consecutive growth, according to Auto Trader.
Luxury used car retailer Autovogue has ceased trading after blaming “failing used Jaguar Land Rover vehicles” for its faltering financial fortunes.
Sales of new and used cars fell by 13% in a “conflicting” January, when compared to the same month last year.
Motorway has asserted that it has “significant funding reserves” to drive further growth after more than doubling its used car sales revenues to £1.7 billion in 2022.
Premier Car Supermarket has expanded into Kettering with the completion of the new facility on a 3.55-acre site at Cransley Park.
Almost half of in-market car buyers lack faith in the approved-used car programmes offered by dealers and manufacturers.
A festive rush to stock petrol and diesel cars triggered 25% sales growth at UK auctions as consumers cooled on the idea of buying a pre-owned electric vehicle (EV).
Dealers and remarketing firms need to increase their investment in vehicle reconditioning to ensure older vehicles meet the expected retail standard.
Motorpoint chief executive Mark Carpenter has insisted the car supermarket group will succeed in its goal of becoming a “highly profitable market leader” despite faltering finance commissions and used vehicle margins.
The average price of a used car advertised for sale on Auto Traders has reached a new record high after car retailers started the new year with “real momentum”, it has been claimed.
BCA has entered into consultation with staff over business restructure plans that involve the closure of its vehicle preparation centre closure at Upper Heyford.
Cazoo plans to close sites and axe jobs in the UK as part of a ‘Revised 2023 plan’ following its 2022 exit from used car markets on the European mainland.
Zuto has reported record levels of applications for the weeks following Christmas 2022, with the trend continuing through January 2023.
Wholesale prices for used electric vehicles (EVs) fell by almost £5,000 during Q4, according to Aston Barclay.
Cap HPI has warned that further ‘significant reductions’ in used electric vehicle (EV) prices are expected after Tesla’s Model 3 lost a quarter of its value in less than four months.
Record trading between Christmas and the start of the new year demonstrated that car retailers were keen to get a “good head start” for strong January trading, according to BCA.
Land Rover has dominated Dealer Auction’s 2023 used car margin rankings, accounting for 40% of the top 10 models offering the strong profit opportunities to retailers.
A third of car dealers predict that used car values will slump by around 10% as the cost-of-living crisis impacts consumer confidence to deliver ‘more difficult’ trading conditions in 2023.
Stock starved car retailers are avoiding used electric vehicles (EV) as zero-emission vehicles continue to decline four times faster than their diesel-powered equivalents.
Dealer Auction has appointed Auto Trader’s client development director Damien Smith as national account director.
