Used vehicle retailing - Page 37

SW Car Supermarket has become the latest car retailer to celebrate a record sales week after reopening its showroom doors following COVID-19 'Lockdown 3'.

Used car prices at auction have risen by up to 8% in the last two weeks since showrooms were able to re-open.

Swansway Group has reported record profitability and growth in its car and van sales volumes in annual financial results detailing its performance during a COVID-impacted 2020.

The supply of used cars is expected to remain restricted in the short term, pushing up wholesale prices and limiting growth opportunities for dealers, according to Cox Automotive.

BCA has revealed that used car values rose by an average of 15.8% as traders’ stocking demands ramped-up in the week of the April 12 reopening of showrooms in England and Wales.

Cazoo has added Barnado’s deputy chairperson Moni Mannings to its board of directors as it continues to make preparations for its £5 billion public offering on the New York Stock Exchange.

Sytner Group’s CarShop used car division has furthered its aim to deliver an omnichannel sales process with the launch of its new CarShop Express store in Leicester.

Manheim Auction Services has said that it will continue to waive its online car buying fees and offer free vehicle collection as part of its Accelerate package of COVID-19 recovery support.

Aston Barclay managing director Martin Potter has said that the success of the remarketing provider’s return to physical auctions after ‘Lockdown 3’ could mean it has to “turn traders away”.

Available Car delivered an all-time record week of sales after its reopened its four used car supermarket sites last week.

JCT600 has launched six ‘JCT600 Approved’ used car dealerships as part of a move to set new standards for its pre-owned vehicles.

Nearly half (46%) of all in-market buyers are expected to visit a car showroom in the next two weeks, according to the latest research from What Car?.

Auction companies are predicting that values for used petrol and diesel cars will remain strong as the country emerges from lockdown and consumer confidence improves.

The COVID-19 pandemic and series of lockdown restrictions on car showrooms have “changed customer behaviour for good”, according to online retailer Carzam.

Aston Barclay has reported that its used car sales volumes in a COVID-19 hit Q1 were a match for those of the same period in 2020.

Heycar is increasing payment terms to 60 days until the end of Q2 to provide dealers with ‘welcome breathing space’ as after this week's showroom reopenings.

Used car auctions across the UK have reported ‘exceptionally competitive’ trading during March as car dealers prepared for a bumper period of sales following this week’s reopening of showrooms.

Europe’s largest independent used car retailer is aiming to create a ‘borderless’ online car retail business across 12 countries with the launch of its Driverama platform.

Demand for used diesel cars drove prices to record hights during the first quarter of 2021, according to Autorola.

The Finance and Leasing Association (FLA) has said it expects a “strong rebound” in the automotive finance sector after car showrooms emerge from COVID-19 ‘Lockdown 3’ on Monday.

Motorpoint has revealed that 52% of its used car sales were completed online during a COVID-hit 2020 trading period.

Auto Trader has said it expects the UK’s car retail sector to deliver a “fast return to health” after seeing a 12th consecutive month of rising used car prices and record online engagement from buyers in March.

Rupert Pontin, director of insight at Cazana, reminds dealers of five responsibilities ahead of the end of their showrooms' release from coronavirus lockdown.

Dealers have recorded their best speed of sale yet in 2021, with average used car days in stock dropping to 45.6 days from 49.5 days in both January and February, according to eBay Motors Group data.

Used car dealers have transitioned to a multi-channel strategy for stock acquisition following the coronavirus pandemic, according to Nextgear Capital.