Used values rose by a further 1% in February as demand for new cars softens, according to Cap HPI.
Auto Trader has revealed that the Mini Cooper was the fastest selling used car in January followed by the Fiat 500X.
Values of used cars have continued to strengthen in February, according to Cap HPI’s Black Book Live.
The Finance and Leasing Association’s head of motor finance Adrian Dally has said that lenders expect a “stable” 2018 after full-year results from 2017 revealed new business had grown 2% by value and 7% by volume.
Aston Barclay has reported that sales of diesel-powered ex-fleet cars have reached a two-year high value at its UK auction sites – indicating the fuel still holds appeal to traders and consumers.
The SMMT has increased its forecasted 2018 new car registrations decline from 5.4% to 5.7% in its latest prediction of how the market's performance between now and the end of 2019.
Corporate fleets leading the exodus away from the fuel as more than 59% of the overall fleet sector asserts that it will not replace vehicles with those powered by the once popular fuel-type.
Car retailers face a £158.5 million tax rise over the next five years as “further increased liabilities if investing” place further pressure on an industry which has lost one-in-ten locations since 2009.
Car dealers who generated an £17,000 average profit in December 2016 suffered the effects of a £400 loss 12 months later, according to ASE.
New car sales volumes fell by 6.3% as the market started 2018 with the lowest January total since 2014, prompting the SMMT to urge government to drive fleet drivers back into diesel cars.
The future of automotive retailing has been in question as car buyers have uncertainty around diesel, electrification and autonomous cars.
The 5.7% fall in new car registrations last year was not split equally across brands, channels or models
The SMMT’s volume forecast for 2017 failed to predict the extent of the Q4 sales slump. How can dealers plan for a 2018 market that may be just as volatile?
The strength of Europe’s car retail revival was enough to override the UK’s decline as registrations across the region rose by 3.1% to 15.6m units during 2017.
The rejection of car ownership is likely to become the “new norm” according to a government report which has highlighted the falling number of teenagers getting behind the wheel.
Up to half of UK car dealerships will close within by 2025 according to respondents to KPMG’s Global Automotive Executive Survey 2018.
The AM GDPR conference will educate delegates on EU privacy regulations which have the potential to prevent dealers from calling customers.
Household expenditure on vehicle ownership defied the negative narrative surrounding PCP car finance products with an increase of 47.7% in spending on “hire loan purchase agreements” during 2017.
Car retailers' online sales leads rose by 34% during December as the sector experienced an 8.5% rise in used cars during the final month of 2017, according to enquiryMAX.
Car retailers recorded an average loss of £19,000 in a "tough" November as the average return on sales percentage dipped to 0.97%.
