New insight by automotive data experts, cap hpi, shows that you have only a few days left as the ideal time to buy a used car is the last week of October. New vehicle registrations hit a record high in September with official industry data showing that 469,696 vehicles were registered in total - a 1.6 per cent rise on the same month last year and the highest number of motor sales on record for … [Read more...]
Greedy dealers are losing money on sales
Fleets "hanging onto" cars and vans in an attempt to achieve unrealistic and inflated valuations are causing distortions in the used car and van markets, say Glass's. Reluctance to sell below these guide prices, and continually resubmitting vehicles for sale at the same or other auctions, creates a range of problems, said Rupert Pontin, director of valuations. He explained: "Lately, we are … [Read more...]
Used cars’ value bounces back after Brexit vote
Used car values bounced back in July from a marginal dip in June, according to BCA. The data shows an 8.2% increase in average values year on year, with the headline figure up £635. Month on month there was a 1.7% increase in the headline average value of a used car. Whilst model mix and seasonal variations will have a part to play, the headline figures suggest resilience in the used car … [Read more...]
Hottest used cars this summer revealed
Automotive data experts cap hpi have revealed the fastest selling used cars based on the latest market sales data. Philip Nothard, consumer and retail specialist at cap hpi, said, “Looking at the data from the number of used cars advertised in the UK we are able to identify the best-selling makes and models and how quickly they are being snapped up. “The key positive for the used market to … [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...]
Starship mileages not out of this world for buyers
Used cars that have covered "starship mileages" of 150,000 miles or more are no longer off-putting to buyers if the condition and the badge is right, reports Glass's. The publishers of the motor trade bible, Glass's Guide, say that a healthy market has developed for prestige cars that would once have been considered almost unsaleable. Rupert Pontin, Head of Valuations, said: "A high-level … [Read more...]