Mitsubishi Motors is selling its historic heritage fleet and personal number plates as the business prepares to close down in the UK. The auction will run from April 1 to April 30 on the specialist online platform Auto Auction. All 14 historic cars are up for grabs with detailed descriptions and a comprehensive array of images and videos for each vehicles, as well as introductory films … [Read more...]
Covid-19 has failed to contain car auctions
UK motor auctions have told the National Association of Motor Auctions it is ‘business as usual’ despite the four-week lockdown in England and the additional restrictions across the country. NAMA has recently held a member meeting where auctioneers discussed the challenges facing their businesses due to COVID-19 and analysed the current and future state of the market. The majority of businesses … [Read more...]
Potential potholes for planning ahead
The impact of the coronavirus crisis and potential effects of Brexit are making planning beyond the short term almost impossible in the remarketing sector. So reports the Vehicle Remarketing Association (VRA), which points out that the currently booming market is arguably obscuring the potential dangers that lie ahead. Chair Sam Watkins said, “As has been widely reported, the sector is very, … [Read more...]
Auction action accelerates
Auction houses are experiencing strong vehicle values and a strong demand for stock, according to the National Association of Motor Auctions. While the majority of auction houses are not yet opening their auction halls to buyers, they continue to be very busy with on-line sales. Used vehicles are in keen demand from consumers post-lockdown as many look for an alternative to public transport … [Read more...]
One-off Bristol sports car up for sale
Car enthusiasts are getting a once-in-a-lifetime chance to buy a unique one-off four-year-old British sports car, and it could cost them hundreds of thousands of pounds. The Bristol Bullet roadster is among items being disposed of by joint liquidators of Britsol Cars, which folded earlier this year. Jeremy Frost and Patrick Wadsted of Frost Group Ltd appointed as Joint Liquidators, have … [Read more...]
Newslines 3 August
A bidder on Car & Classic Auction has secured a rare Mk1 Volkswagen Golf GTI for £21,500 - some £1,230 more than they could have bought a brand new 20-plate Golf. The 1983 Golf GTI was listed on Car & Classic Auction for seven days and by day three had already exceeded its estimate of £11,500 to £13,500, although it’s no ordinary Golf GTI, it’s a genuine Pirelli edition Golf GTI that has … [Read more...]
Dealers seek Government help
The retail automotive sector employs 590,000 people in the UK and businesses must be protected through supportive fiscal measures during the outbreak of the Coronavirus, said Sue Robinson, Director of the National Franchised Dealers Association. NFDA yesterday wrote a letter to the Chancellor of the Exchequer, the Rt Hon Rishi Sunak MP and Alok Sharma, Secretary of State for Business, Enterprise … [Read more...]
Traders attack new consumer advice
Car dealers and auction houses have fallen out with trading standards officers. “It is disappointing that following a number of responses, including our detailed comments on the draft guidance consultation, the Chartered Trading Standards Institute has ignored the majority of the issues NFDA had outlined alongside other industry trade bodies”, said Sue Robinson, Director of the National … [Read more...]
Auctions expected to rise in trade
Over half of respondents in a recent survey expect an increase in auction volumes, said Louise Wallis, Head of the National Association of Motor Auctions, commenting on the latest figures from NAMA’s market attitude survey. Auction volumes are expected to increase by 53% of respondents, with only 20% predicting a fall. Conversion rates are strongly favoured to increase, with 73% believing they … [Read more...]
Auction slowdown expected as normal
Supplies of used models will go down over the next few months as dealers traditionally hold off putting them in auctions. “Half of respondents in this month’s NAMA survey are expecting volumes to fall over the coming month. Volumes of vehicles arriving at auction centres generally reduce towards the end of the year, and this year appears to be no different,” said Louise Wallis, Head of the … [Read more...]