The UK's used car market continues to climb back towards its traditional level, according to data from the Society of Motor Manufacturers and Traders which reveals the first half of 2023 recorded 4.1% used car transactions growth year-on-year.
Auto Trader reports that a 40th consecutive month of year-on-year used car price growth now leaves the average second hand car some £4,000 more expensive than in April 2020 when prices began to climb.
Used car values fell by 1.9% in July despite healthy wholesale activity, according to pricing experts at Cap HPI.
Peter Vardy is preparing to close two of its purpose-built large car supermarkets in Dundee and Glasgow as a result of challenges in the used car market.
Ebay Motor Group has revealed the top 10 fastest selling EVs in July.
Cox Automotive has signed terms with four car supermarkets that will result in an additional 2,000 vehicles a year selling through Manheim Auction Services.
Petrol was the fuel of choice for many used car buyers in July, against the backdrop of challenging economic conditions, according to eBay Motors Group.
Motorway, the UK used car marketplace, has appointed Liz Kistruck, a former director at Expedia, as the company’s first chief financial officer.
Global investment firm Carlyle has agreed to acquire Evolution Funding, the UK used car finance platform.
Two-thirds of car dealers (66%) are worried about future margin erosion affecting their business, new research shows.
Used electric vehicle (EV) sales are outselling used diesels at less than two years old, according to Indicata’s latest data for June.
While Auto Trader's Retail Price Index data reveals a slight softening in the growth of used car retail values this month, the used car buyer is still facing price rises the longer they wait.
Stellantis has launched online direct sales of used cars in the UK today through its Spoticar division.
Voluntary terminations, voluntary surrenders and repossessions rose in May 2023 to the highest level for nearly two years, according to the Motor Auction Group.
Three-quarters of buyers have said they prefer to be left alone when browsing for a new car at showrooms, according to research by eBay Motors Group.
Aston Barclay has seen more signs the used EV sector is settling down in Q2 as prices fell by 1.4% (£329) to £22,100.
Vertu’s Bristol Street Motors has opened its latest Motornation used car dealership in Tamworth, following an investment of over £200,000.
Less than six years since its inception the Independent Motor Dealers Association has reached the 1,000 member mark.
Dealer Auction, the digital wholesale marketplace, is launching a collection and processing service as part of its offering for dealer and fleet customers.
Dealers saw welcome stability in demand in June but continued to battle with limited supply, according to eBay Motors Group.
A fraudulent car dealer has been sentenced to nearly three years in prison after confessing to swindling customers by selling unsafe vehicles that posed serious risks to their lives.
Auto Trader's Retail Price Index has shown that the average retail value of used cars has increased by 3.5% compared to last year's levels, which were already 24% higher than in 2021.
A fraudster held Beacon Garage's courtesy car hostage for almost five months while falsely claiming insurers would pay the estimated £8,000 bill for fully fixing his Land Rover.
What Car? has revealed the most and least reliable used cars based on the opinions of over 25,000 UK motorists.
Price still trumps brand loyalty when consumers are searching for their next car online, according to eBay Motors Group.
