Nextgear Capital has said that a used car stock funding is poised for further growth as dealers look to “boost their buying power” amid rising values and a rush for stock.
A race for vehicle refurbishing services could be sparked by used car stock shortages which are leading car dealers to downgrade the condition of stock they are buying to fill their forecourts, according to the Vehicle Remarketing Association.
Manheim has forecasted a buoyant end to 2018 for the used car market following an uplift in buyer activity during September - describing demand for the right stock as "supercharged".
Used car values fell by 5.4% at auction during September according to the National Association of Motor Auctions.
Auto Trader has reported that the average price of a used car offered for sales on a dealer forecourt reached a record high of £12,853 during September.
BCA has delivered further evidence of the soaring value of used vehicle stock for car dealers during September as average prices reached the highest level the remarketing specialist has ever recorded.
In-line with the recent prediction from the Met Office that the UK faces its coldest and harshest winter in a decade, buyer services manager – Alex Miles – at G3 Remarketing, offers his advice to dealers on how they can prepare their forecourts now.
Avis Car Rental UK will allow car dealers and trade buyers to purchase its de-fleeted vehicles via a new online sales portal developed in partnership with CD Auction Group.
NextGear Capital has announced the appointment of Amrit Singh to the role of finance director.
The founder of the Europe-wide used car stocking platform Auto1 has said that artificial intelligence will help it meet the needs of retailers from Walsall to Warsaw - and avoid the effects of an economic downturn.
Volkswagen Financial Services UK will offer car dealers the chance to buy discounted cars and vans via a new ‘Last Chance to Buy’ online auction set up in partnership with epyx.
Cox Automotive and Auto Trader have launched a joint venture to drive growth of the Dealer Auction automotive wholesale marketplace – promising car retailers a greater choice of vehicle stock.
Almost two in five dealers have highlighted stock acquisition as the number one commercial challenge in their used car business.
Vantage Motor Group will remarket 6,000 used cars through auction houses in Donington Park, Prees Heath and a planned Wakefield ‘Mega Centre’ as part of a new solus remarketing deal with Aston Barclay.
Tootle has launched a new progressive comparison tool which allows car buyers to compare offers from dealers and car buying service companies.
Used car values rose 3% at Manheim auction houses and 11% on the Dealer Trade online trading platform but dipped 10% on the consumer-facing Motors.co.uk website during June, Cox Automotive has revealed.
BCA Brighouse is set to mark its 45th anniversary with a special week of used car sales in June.
The Vehicle Remarketing Association has warned that an oversupply of petrol-fuelled used cars is likely to result from the “dramatic shift away from diesel in favour of petrol”.
Aston Barclay has seen used car purchases completed via its Buyer App hit the £5m mark just eight months after the smartphone buying platform’s launch.
Used car prices declined 0.8% at BCA auctions during April despite demand for dealer part-exchanges sending their values to above £5,000 for the first time.