An artificial spike in new car sales is likely towards the end of the year, says industry watcher Glass’s. The price guide chief car editor, Jayson Whittington, said, “Consumer confidence as measured by GFK's market research survey is reported to have dropped by 11 points in July, which is the sharpest fall in 26 years. “Clearly consumers are reporting high levels of concern at the general … [Read more...]
Car market is just about holding its own for now
The new car registration figures for July from the SMMT are broadly in line with Glass’s expectations and it is good to see that the market appears to be holding its own for the moment in a general climate of consumer concern. However, it is important to note that private vehicle registrations have dropped noticeably this month and this is becoming a bit of a trend and something that reflects … [Read more...]
Q4 here for Brexit backlash – if it comes at all
The UK's decision to Brexit probably won't materially start to affect the UK used car market until the fourth quarter of 2016, say Glass's. The motor industry data market leader is forecasting that it will take at least this long for the initial impact of Brexit to start to make itself felt. The summer break, which usually signals a quieter period in the trade, is also likely to delay the … [Read more...]
Extras that add value when you resell – Glass’s
Glass's has named the top five optional extras that add value when it comes to selling your car. Rupert Pontin, director of valuations, said that few options increased the value of a vehicle or made it easier to move on when it resold but that there were some exceptions. He explained: "Apart from these five, almost nothing that can be added to a vehicle has any real value. Even some options … [Read more...]
Brexit is baffling the big-car market, say Glass’s
Potential buyers of higher value used cars appear to be holding back until the outcome of the EU referendum is known, according to the UK's leading vehicle data provider, Glass's. The company is increasingly hearing anecdotal evidence from dealers that cars priced over £15,000 are struggling to sell - with a potential BREXIT apparently being the cause. Rupert Pontin, director of valuations, … [Read more...]
Tougher times test business strategy
Traders must develop and implement a business strategy which responds to today’s intensifying car market, says Glass’s. Given that 2016 continues to outperform new car registration expectations and the used car market is now feeling greater pressure from the increase in used car stock volume, the importance of devising a comprehensive and competitive business strategy is essential. For many … [Read more...]
Facts suggest there should be more not fewer accidents
It is a wonder more serious accidents are not happening on our roads, says Glass’s. With consistent annual growth the total increase in the number of cars licensed to use the road network over the full ten year period is 8.7% and highlights that our roads have become ever more congested and therefore arguably more dangerous. Also consider the fact that cars have also been getting longer and … [Read more...]
Trade is split over buying stock
A split between "two tribes" of trade buyers - those who buy almost entirely online and others who remain motor auction-based - is becoming increasingly apparent, says Glass's. The motor industry data market leader reports that there has been a noticeable hardening in the shape and attitude of both groups over the last year or so. Rupert Pontin, Head of Valuations, said, "To an extent, the … [Read more...]
Used dealers face very challenging 2016
It’s going to be a challenging year in the used car market, according to analysts at Cap. Cap is predicting 2016 will be a tough with more used cars entering the market after record levels of new car registrations in 2015. Derren Martin, senior editor at cap Black Book said, “Stability in the market will rest on strong retail demand. The record levels of new registrations in 2015 were … [Read more...]
Financial deals & incentives will drive UK sales this year
Growth in the number and variety of finance packages available to private buyers will drive the new and used car markets in 2016, predicts Glass's. In the new car sector, which will see growth in registrations of around 3%, further finance packages will need to stimulate consumer interest and provide new avenues to affordability. However, the real innovations are being seen in the used … [Read more...]