AM’s next Used Car Conference will look at how dealers can forge ahead in the used car market following mixed fortunes for the market this year.
Prices have been stable, but good quality stock has been hard to find and low sales at auction in June suggest tougher times ahead.
The conference, which takes place at the Ricoh Arena, Coventry on October 10, will once again be hosted by used car commentator Quentin Willson.
Speakers include Professor Peter Cooke, author of the BCA Used Car Market Report, who will provide the latest facts and statistics on the market as a whole to enable dealers to focus on specific areas to maintain the momentum over the coming months.
AM will also explore the role of finance as more and more used car buyers opt to fund their purchases at the dealership.
GAP Insurance will also be placed under the spotlight by Adrian Foster, director of Remit Showroom which provides F&I training and business manager recruitment and placement services.
Placing the spotlight on GAP coincides with a market study by the Financial Conduct Authority (FCA) into general insurance add-on products including price and value-for-money.
While the FCA’s report is not expected until 2014, Foster will explore some of the implications and the strengths of GAP as a product as well as good and bad practice in the automotive retail sector.
Headline sponsor Autotrader will provide its own view of the market with expert insight, advice and findings. BCA, also a sponsor, will look at how trends at auction play out in the used car market as a whole.
Set against a used car market performance which saw highs in the first half of the year despite a boost in new car registrations in June (up by more than 13% compared to June 2012, according to figures from the Society of Motor Manufacturers and Trader), the conference urges caution but not pessimism after figures from the National Association of Motor Auctions (NAMA) reported that used car sales volumes and conversion rates fell in June.
AM editor Jeremy Bennett said: “While the NAMA data, which showed 19% fewer units sold in June than May is alarming, their experts believe this will be the low of the year.
“However, dealers need to remain on full alert and be armed with the most up-to-date and reliable information to enable them to plan and stay ahead of the competition as there is no doubt, the market will be tougher in the second half of this year than in the first.
“Our topics, panels of experts and dealer case studies will seek to provide as accurate a picture as possible of this complex marketplace while identifying trends which will point to the sector’s likely future performance.
“It is our intention to arm delegates with data, facts, figures and new thinking so they are best placed to maximise the potential of their individual businesses on their return to the showroom.”