Hybrid cars became the UK’s second most popular used car fuel type in May behind petrol, according to Indicata’s latest data.
Car supermarket chain Motorpoint suffered a swing from £21.5m profits in its 2022 financial year to a £300,000 loss in its 2023 financial year, as it was hit by rising financing costs, stock shortages, depreciating electric vehicles and rising investment requirements.
BCA has said the market for used EVs is improving after seeing the strongest performance for the segment in May, since the peak recorded last October.
Cazoo has said its plan to control costs and improve its margins on used car sales is “coming together” in its latest performance update to the market.
Less than a third of car buyers (29%) always try to negotiate when purchasing a car, according to a new CarGurus survey.
Dealer Auction has revealed the top 10 used cars that have delivered the best retail margins in April.
SVA has achieved Electric Vehicle Approved (EVA) status following the rollout of several environmental initiatives over the last 18 months.
Aston Barclay chief executive Tom Marley has left the business “by mutual agreement” as the company announced a raft of changes and new leadership roles.
The UK’s used car market rallied with 4.1% growth in Q1 and EVs were the fastest growing sector, up by 56.5%, according to the latest data from the SMMT.
New EU vehicle regulations could make battery state of health monitoring standard for all new electric vehicles, according to OZEV.
Used car stocks continued to drop and days to sell increased in April, according to the latest Market View analysis from eBay Motors Group.
Used car retailer Cazoo reported a 690% year-on-year growth of gross profit per unit and overall gross profits up 367% to £14 million in Q1 as its CEO asserted that its sweeping restructure was starting to “bear fruit”.
Used car prices declined by 1% during April as Easter holidays delivered a seasonal drop in demand, Cap HPI has reported.
Autorola UK is set to become the European used car remarketing business’s largest operation after strong growth prompted plans to double its workforce.
Shoreham Vehicle Auctions (SVA) has accelerated its fund-raising for the Chestnut Tree House Hospice past £270,000 with a trio of charity car auctions held at the end of March.
Car retailers have been urged to show support to cash-strapped car buyers as more than a quarter take longer to assess affordability amid the cost-of living crisis and the viability of alternative fuel vehicles (AFV).
The Fiat 500 city car’s consistently strong value as a used vehicle has secured it an historic overall win in Cap HPI’s first ever data-driven Used Car of the Year Awards.
The used car market’s supply of electric vehicles (EV) has fallen 59.1% (100 days) in 2023 thanks to a reduction in prices, according to Indicata UK’s latest Market Watch report.
Auto Trader has called for incentives and tax breaks to make electric vehicles (EV) more affordable and put the UK Government’s plan to ban pure petrol and diesel vehicles by 2030 “back on track”.
Used cars ended Q1 with a third successive month of rising values at BCA auctions after what chief operating officer Stuart Pearson described as a “very encouraging start to 2023”.
Members of the Vehicle Remarketing Association (VRA) will gain insight from the Office for Zero Emission Vehicles (OZEV) head of vehicle policy at a meeting later this month.
The UK car retail sector’s best-performing used cars are set to be celebrated when AM reveals the Cap HPI Car of the Year Awards winners later this week.
Used electric vehicle (EV) buyers can afford to be more aspirational with their car purchasing plans thanks to value declines that have impacted premium products hardest, according to Cap HPI.
Lexus was the used car brand that delivered most to car dealers in March, ahead of Subaru and Land Rover, according to data from trade sales marketplace Dealer Auction.
The Motorpoint used car supermarket group has revealed record revenues totalling £1.44 billion from its 2022 financial year in a trading update published this morning (April 6).
