The UK’s used car market grew 108.6% in the second quarter of 2021 according to the Society of Motor Manufacturers and Traders. Some 2,167,504 vehicles changed hands, up 6.6% on 2019 pre-pandemic levels, the best Q2 performance and almost the best quarter ever for the used car market. The increase tracks the country’s gradual emergence from lockdown, as businesses reopened, demand for personal … [Read more...]
Used prices slipping back again
Used car sales have slipped back, said analyst Cazana's Director of Insight, Rupert Pontin. The car market in June 2021 has so far proven to be extremely exciting, and last week was no exception as both new and used car sales had another week of varied activity levels. - Used Car Sales Down -17.5% Week on Week - Cazana Used Car Retail Price Index Dips by -2% - The Volume … [Read more...]
Rising hesitancy over buying is the new norm
There is no doubt that new and used car sales are right at the forefront of the car retailer’s commercial strategy at the moment, said Rupert Pontin, Director of Insight at Cazana, the motor trade analysts. As another week of strong sales performance passed by and the retailers continued to make the most of the pent-up buyer demand, new car sales looked good, although the restrictions on supply … [Read more...]
Newslines 24 May
The Morgan Motor Company is completing the redevelopment of its visitor attraction, the Morgan Experience Centre, with the opening of its all-new interactive museum experience. The Archive Room is home to the full company archives, containing more than a century of artefacts, documents, photographs and footage that chart the unique history and heritage of the brand. UK based automotive insights … [Read more...]
Supply not demand the issue with van sales
Following a series of exceedingly strong months of used sales performance, April recorded a drop in the number of LCVs sold, said Rupert Pontin, Director of Insights at Cazana. It is of interest to note that the volume of new retail listings during the month has also dropped by -11.9% which suggests that the problem here is not demand but a lack of supply of used product to satisfy demand and … [Read more...]
Advertising brakes but car sales accelerate
Sales enquiries for both new and used cars have seen an increase during the last week as retail buyers appear to have gained a little more confidence and seem more willing to start to spend the money they have inadvertently saved during the current third lockdown period. However, new car sales for the month are still looking to be at around 60% of normal levels with a considerable constraint on … [Read more...]
Difficulties setting values of newest and future cars
Sellers and buyers face a torrid time setting values on the latest hybrid and electric cars. Aside from the myriad of other issues that will affect both the production and adoption of BEVs and advanced hybrid technology, the industry needs to begin to understand what the future value of these cars will look like, and also the level of retail consumer interest. Without a realistic view of the … [Read more...]
Retail pricing becoming more volatile as shortages ease
Under normal circumstances, September would be a month of celebration and investigation for the industry as a whole with new car registrations taking priority over the used car business within retailers nationwide. However, 2020 has been a unique year so far and this time September has been a month fighting to sustain the recovery that started in June when the retailer doors opened for business … [Read more...]
Used prices volatility reflects fuel types and models
Used car prices are becoming more volatile and reflecting changes in fuel types and body styles as well as size, say Cazana director of instights, Rupert Pontin. The first week of August saw a marginal shift in the retail market with footfall at the retailers and online enquiries slightly down on the levels of recent weeks. Firstly, this is hardly surprising given it is the holiday season … [Read more...]
Slow pickup to England’s car sales after lockdown eases
The industry is now one week into the post lockdown trading period in England and the question that concerned retailers nationwide has now been answered and that was whether there really would be consumer demand for cars, says Rupert Pontin, Director of Insights at Cazana. Indications both anecdotal and factual reflect the fact that consumers have returned to the showrooms in significant numbers, … [Read more...]