BCA has been accused of “opening Pandora’s Box” by shifting its cinch online marketing platform to compete directly with its car retail customers in the online sales sector.
Following a frantic September which saw car retailers fight to sustain the market’s COVID-19 recovery Cazana director of insights, Rupert Pontin, believes a volatile period of used car pricing trends lies ahead.
Auto Trader has reported its 23rd week of consecutive used car price rises as the sector continued to defy the impact of COVID with values up 8.5% between October 5 and 11.
Online vehicle remarketing company Adesa UK has appointed Eddie Thomson as its new head of business development.
Motorpoint has promoted Isaac Barrett into the role of sales manager at its Oldbury used car supermarket site.
Aston Barclay has reported that the “unstoppable” strength of the used car market might be about to soften after increased post-September supplies start to reach remarketing centres.
Forthcoming Financial Conduct Authority (FCA) changes to the motor finance sector should be embraced as a “promotional and profit opportunity” by used car dealers.
Motorway is offering car retailers 50% off broker fees on the first two purchases made through the Motorway Pro platform during October.
BCA’s average used car sale value at auction remained above £8,000 for a fourth consecutive month after values rose by 6.9% during strong September trading.
The UK’s consumer car finance market grew 1% by volume and 8% by value during August, according to new data from the Finance and Leasing Association (FLA).
Sales of used sports cars have risen by 82% between June and august, when compared to the same period last year.
Demand for used diesel cars has driven average values up by 11.3% to the end of Q3 2020, outstripping increases among any other fuel type, according to Autrola market data.
Motorpoint chief executive Mark Carpenter has said that the car supermarket group’s board “continues to look to the future with confidence” after a June return to profitability.
Auto Trader has officially launched a Retailer Performance Masterclass (RPM) online hub with the aim of providing advice and support to car retailers through a series of “bite size” best practice tutorials.
Manheim will auction 1,000 used cars across five locations as part of a Marshall Motor Group mega-event running from October 12 to 16.
Cazoo founder Alex Chesterman told AM that it is “too early to speculate” about a possible market floatation of the online car retail business, following publication of its 2019 annual financial results.
The average UK car retailer delivered a £28,000 year-on-year swing to profitability in August to ensure “a profitable 2020 seems very much in reach for the average retailer”, according to ASE.
Used car retailers saw their stock turn accelerate by 10 days in September as average advertised prices rose by 1.8%, eBay Motors has reported.
Average retail used car prices on Auto Trader recorded the largest ever monthly price increase in September - increasing by 7.6% to £13,829.
Ex-Liverpool and England footballer Jamie Redknapp features in a series of heycar TV adverts in a marketing campaign launched in partnership with Sky Media.
The Steven Eagell Group has opened a new Lexus used car showroom and aftersales facility in Kings Lynn with the relocation of its Toyota franchise in the Norfolk market town.
Online car retailer Cazoo has attracted a new group of investors in a new funding round which has taken its overall financial backing to a record £450 million.
Online used car retailer Cazoo has opened its fifth Customer Centre in a former Imperial Cars car supermarket site in Birmingham.
The combined challenges of the coronavirus pandemic and Brexit are making long-term planning almost impossible in the remarketing sector.
BCA is promising to provide car retailers with "increased selling opportunities and efficiencies" with the launch of a new Retail Ready used car stocking channel.
