Used vehicle retailing - Page 22

Car retailers and wholesalers have been promised the opportunity to trade vehicles in “minutes” via a new platform launched this week.

UK inflation reached a 40-year high of 9.1% as the pricing pressures forcing car buyers to think twice about their next purchase continued to intensify.

Car subscription provider Mycardirect has an overall vehicle mix of 28%, which is double the share seen in the UK car market overall.

Solera has introduced eBay Motors’ live used car retail data to its Audatex Market Value Manager to help insurance claims handlers offer more accurate valuations in a fast-moving market.

The Finance and Leasing Association (FLA) still expects a Q2 rise in car buying activity, despite expectations that spending will slow amid rising inflation, interest rates, and taxes.

Diesel cars remain the UK’s fastest selling used cars and continue to buck the trend of declining values, Aston Barclay has told the BVRLA.

Glasgow Rangers FC will continue to benefit from online used car retailer cinch’s a £8 million sponsorship of the Scottish Premier League (SPL), despite refusing to display its branding.

Cost-conscious car buyers are opting for older, higher mileage cars as household incomes become increasing stretched, according to research commissioned by leading warranty provider WMS Group

Used car dealer group Motorpoint has more than doubled its profits year-on-year, bringing them back to levels last seen before the pandemic.

Cazoo will begin its UK jobs cuts with the closure of a vehicle preparation centre acquired from SMH Fleet Solutions in September last year.

The UK’s used car sector would be “a bloodbath” for dealers without the high values and strong margins maintained as a result of 2022’s supply shortages, Cap HPI’s Derren Martin has suggested.

Inchcape has expanded its used car retail division with the opening of new stores in Stoke-on-Trent and Guildford.

Cazoo has kicked-off its plan to cut its marketing costs as part of its bid to save £200 million per year with the loss of its high-profile Premier League shirt sponsorship deal with Everton FC.

Auto Trader has urged car retailers not to “jump to rash conclusions about the health of the market” after car price rises eased in May with the prospect of tough times ahead for car buying consumers.

A Scottish Football sponsorship feud involving Rangers Football Club, Parks Motor Group and cinch may have boosted the online car retailers profile, a YouGov poll suggests.

Carzam founder Peter Waddell has blamed the faltering performance of online-only car retail businesses including Cazoo for the venture’s failure.

Carwow has seen a 113% increase in the proportion of consumers who place a formal enquiry for a used car after initially searching on the platform for a new car.

The Trade Centre Group has expanded into a seventh used car supermarket site after delivering record profitability in its 2021 annual financial results.

Car retailers eager to ensure their forecourts are stocked with the best used cars in a market currently starved of vehicle supply are being urged to sign-up to today’s free AM webinar.

Big Motoring World founder Peter Waddell is experiencing his “proud dad moment” as his son, Jack, prepares to open his new car showroom this weekend.

Used car retailers have experienced a May sector “down on hopes and expectations” with average values down by 0.7% as a result, Cap HPI has reported.

Cinch is set to become Crystal Palace’s official shirt sponsor for the 2022/23 Premier League football season as part of a multi-year contract.

Auto Trader has revealed revenues up by 65% and pre-tax profit growth of 91% in a set of 2021/2022 annual financial results published this morning.

Auto Trader has entered a new partnership with Haymarket Automotive to power the used car pages on its Autocar and What Car? websites.

Used Electric Vehicles (EVs) are selling as quickly as petrol and diesel cars for the first time, according to Indicata.