More than a quarter (27%) of motorists will be considering changing their car, despite current economic uncertainty, says Sainsbury’s Bank. It's study found car buyers are planning to spend an average of £11,280 in 2019 and the top three reasons for investing in a new car include having a more environmentally-friendly vehicle (39%), being cheaper to run (35%) and featuring more gadgets … [Read more...]
Technology’s ticking time-bomb in trade
A new technology time-bomb is ticking in the used car trade. Rapidly changing vehicle technology means that the remarketing sector is going to have to undergo an unprecedented period of upskilling over the next decade, says the Vehicle Remarketing Association. The organisation – which represent companies that handle, sell, inspect, transport or manage more than 1.5 million used vehicles … [Read more...]
cap hpi reveal the fastest selling used cars
Used car valuations experts HPI analysed hundreds of thousands of used car adverts to create a tool that reveals how long it takes to sell a particular model in a local area. The data covers no fewer than 100 towns and cities around the UK and 551 car makes and models. From Truro to Aberdeen and Belfast to Norwich, if you want to know what the five most popular used cars are, the free tool can … [Read more...]
Used prices rising as new cars stall
Nearly new car prices are escalating in the wake of a shortage of new cars due to tougher emissions tests in factories. Prices in the used vehicle sector are being artificially inflated post-WLTP as competition hots up amongst buyers for nearly new and ex-fleet stock according to Shoreham Vehicle Auctions. And they are likely to stay this way until Spring 2019 as the used car market … [Read more...]
Trade prices rising on shortages
Trade prices for good quality used cars have reached a level where it is almost impossible for many dealers to make a profit on the windscreen price and they are instead relying on returns from their F&I department, says the Vehicle Remarketing Association. The organisation says that demand in the used sector for almost all kinds of stock is at levels that makes buying at what dealers would … [Read more...]
Used sales good for UK market
Used electric and hybrid car sales are booming. Figures from the SMMT today show a dramatic increase as the market swells for low emission vehicles now coming onto second-hand sites. Britain’s used car market held strong in 2018’s second quarter, with sales down by a marginal -0.4%, according to figures released today by the Society of Motor Manufacturers and Traders (SMMT). 2,093,429 … [Read more...]
Newslines 9 July
A high number of ex-pcp sourced cars entering the used market has led to a fall in used prices. It’s not just the volume going on sale but the fact many are diesel and hatchbacks or saloons and not the more desirable petrol powered SUV models say analysts at Cazana. Falling prices, steady low interest rates and slowly improving pay are boosting car finance deals. While new car sales are … [Read more...]
Slow start to used sales but diesels rise
Britain’s used car market had a slower but relatively solid start to the year, with sales surpassing 2 million in the first three months, said the Society of Motor Manufacturers and Traders. It reported 2,031,661 vehicles changed hands, a -4.8% (-102,295 units) year-on-year decline compared with Q1 2017. Demand for petrol engine cars fell -9.7%, as diesel registrations rose 2.0% and … [Read more...]
Britons are sensible when it comes to buying cars
Britons buying new cars this March are a sensible bunch. That’s the conclusion of pollsters for a new Opinium survey, who said the buyers mostly diligently research cars before picking one. But the survey also found plenty of people swayed by emotional factors including hearts overruling heads, wanting cars as status symbols, and a car’s colour affecting purchasing decisions. Overall, an … [Read more...]
Write-off changes surprise for some
As we enter the peak period for second hand car sales a survey of 100 consumers by vehicle history checker mycarcheck.com found that 89% were unaware of the recent write-off category changes. In October 2017, the old A, B, C and D categories were replaced with new codes, which focus on safety rather than the cost of repair: A (scrap), B (break), S (structurally damaged repairable) and N … [Read more...]