CARZAR to meet unique needs of younger car buyers
Franchised dealers avoiding older, cheaper cars are missing out as Young people about to sit their driving tests are preparing to spend an average £4,124 on a used petrol manual car.
Significant falls in used car values should be seen in context since they remain up to 30% above where they were before the peak in prices seen in 2021
At mid-September Cap HPI’s data showed the average value of a used car was down -1.1%, and its values experts are expecting the month-end drop to be another 2% overall, similarly to August’s outcome.
Dealers forced to battle for used car stock are being warned to take extra care as new analysis by vehicle history checking company CarVertical suggests that one in 14 used cars under five years old have incorrect or falsified mileages.
Rupert Pontin, commercial director at One Auto API, takes a closer look at how risks right across the sector are ready and waiting to chip away at confidence, efficiency and, ultimately, profits.
The lack of new car supply over recent years will significantly impact the UK’s car supermarkets next year who will struggle to secure used cars in the 3–5-year age bracket.
Volkswagen is offering up to £4,500 to people affected by the expansion of London’s Ultra Low Emission Zone (ULEZ).
Suzuki launches approved used car warranty
Drivers are increasingly factoring in the impact of London’s Ultra Low Emission Zone (ULEZ) emissions standards, according to vehicle history checking service carVertical.
August’s average used car value is heading for a 2% drop, the largest yet this year, as the market “realignment” continues, says Cap HPI.
Concern is growing that the agency model could further restrict the supply of used cars, according to the latest monthly analysis from Startline’s Used Car Tracker.
The used car supermarket chain Big Motoring World has driven annual income past its pre-pandemic levels, recording £10,953,122 pre-tax profit in its recently published accounts for 2022.
Good deals are to be had as London motorists rush to ditch their non-compliant vehicles ahead of the expansion of London’s Ultra-Low Emission Zone (ULEZ)
The AM News Show podcast recently welcomed Perrys managing director Darren Ardron and Cap HPI director of valuations Derren Martin to the studio
Car leasing firm Octopus Electric Vehicles has introduced a salary sacrifice program focused on pre-owned electric vehicles (EVs).
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.
