The remarketing sector will face “many headwinds” next year but a wide range of opportunities remain, the Vehicle Remarketing Association’s annual seminar was told. The event, which took place at The Slate, Warwick University, was attended by almost 200 delegates and looked at the subject of “2024: The Year Ahead in Remarketing.” Philip Nothard, chair at the VRA, said, “Speakers at the event … [Read more...]
EVs becoming more acceptable at resale
A tipping point is close to being reached where there will be widespread dealer and buyer acceptance of electric vehicles, members of the Vehicle Remarketing Association were told at the organisation’s Annual General Meeting last week. Dale Wyatt, director of automobile at Suzuki GB, who presented on issues currently facing motor manufacturers, said that getting to that place would require a … [Read more...]
EV values slide as fleets reshape businesses
Used electric cars and vans are expected to fall further in value in coming months, according one industry expert. The slippage might also see petrol and diesel models cut back by manufacturers to meet tightening ev sales targets by Government. Interference in the ICE market will have the effect of driving up values of existing models as a consequence. Used electric vehicle values could fall by … [Read more...]
Certified Recycled parts see booming demand
Motorists in the UK saved £99 million in 2022 by opting for used parts and accessories instead of brand-new replacements, according to research by eBay. The online marketplace revealed the impact of second-hand parts as it relaunched its Certified Recycled programme, which sells recycled vehicle parts from 81 certified sellers. Certified Recycled parts can be up to 70% cheaper compared to OEM … [Read more...]
Government support is needed for used EVs
As prices for used EVs have collapsed across the UK, the motor trade is calling for Government intervention and support to encourage private buyers. Support for the used electric vehicle market should be a feature of next month’s Spring Budget, says the Vehicle Remarketing Association. The trade body believes there is an imbalance in government incentives between new and used EVs, and that more … [Read more...]
Newslines 6 February: The Beatles Minis on show
Later this month The London Classic Car Show will celebrate the 60th anniversary of the Mini Cooper S in chart-topping style when all three surviving Minis originally owned by the Beatles are reunited for the very first time in 55 years. This once in a generation display at Kensington, Olympia over the 24-26 February weekend, features the famed Minis of George Harrison, Paul McCartney and Ringo … [Read more...]
Profits possible despite a potential pitfall in 2023
A “difficult” 2023 lies ahead for the used vehicle sector but strong profits will still be possible, more than 150 delegates heard at the Vehicle Remarketing Association’s (VRA) Annual Seminar last week. Philip Nothard, chair at the industry body said that speakers at the event had detailed a picture of both economic and structural challenges. “There is a whole list of issues facing the … [Read more...]
Tradelines 27 July
Messe Frankfurt, organisers of the UK Garage and Bodyshop Event, has presented a cheque to Ben for £1,063, following a highly successful partnership at this year's show. The amount was raised through a combination of corporate donation and individual donations that Ben received from attendees at the show who took part in a video game racing challenge and supports people to navigate life’s … [Read more...]
Newslines 17 June
Parents in the UK are spending over £2,400 every year, or £46.15 a week, driving their children to different activities such as parties and hobbies, according to Zuto Finance. The daily school run accounts for the highest percentage of expense and fifth are taking their children over 150 miles a month. South Wales based Veezu, the UK’s fastest growing taxi and private hire technology platform, … [Read more...]
Lower stock, bigger mix and longer retentions
Lower volumes of stock, changes to the available brand mix and longer vehicle retention will be among the major trends in the used car sector in the second half of 2022, says the Vehicle Remarketing Association. Philip Nothard, VRA chair said members expected the market to remain relatively strong but that significant difficulties remained and were likely to have an increasing effect. “The used … [Read more...]
