Used EV prices made a comeback during the last quarter of 2023, according to online marketplace Autorola.
Chris Timms has joined the Autorola UK team as head of sales for its MarketPlace online remarketing platform
Autorola UK has launched a new used vehicle inventory platform which helps dealers speed up and improve their used car vehicle preparation processes
Growing new car sales flush older used cars into the market
Autorola UK is set to become the European used car remarketing business’s largest operation after strong growth prompted plans to double its workforce.
Used cars are getting older, yet prices of diesel, petrol and used hybrids have remained “remarkably” stable over the past 12 months, according to Autorola.
The average age and mileage of used cars at auction has continued to rise in the second quarter of 2022, according to Autorola.
There are fears that the new cars being delivered with incomplete specifications due to the semiconductor shortage are storing up a headache for used car dealers and valuation experts.
Smart Europe has awarded a new five-year remarketing contract to the Autorola Group.
Used car marketing provider eBay Motors Group has said that a downward pricing adjustment was “inevitable” in the sector after seeing values decline by 1.5% month-on-month in April.
Car dealers temporary rise in stock levels at 2021’s year-end is set to be a temporary trend, according to data published by Indicata.
Autorola has reported a third consecutive quarterly rise in online used diesel prices as new car sales continue to fall.
Demand for used hybrid cars has risen in the last quarter, pushing wholesale prices up by 18.7% to an average of £17,591.
Demand for used diesel cars drove prices to record hights during the first quarter of 2021, according to Autorola.
Used car retailers have been warned of an electric vehicle (EV) overpricing issue once again after diesel-powered vehicles sold fastest in January.
Used electric vehicles (EV) appear to have fallen out of favour with car buyers struggling to justify their cost in comparison to petrol and diesel alternatives, according to Autorola.
Demand for used diesel cars has driven average values up by 11.3% to the end of Q3 2020, outstripping increases among any other fuel type, according to Autrola market data.
Autorola UK has bolstered its head count with three new recruits following a 15% growth, post lockdown, across its Autofind online remarketing portal and its Indicata real time used vehicle data pricing platform.
Vehicles aged over six years helped UK car retailers drive a 3.7% increase in post lockdown used car sales during June, according to analysis by Indicata.
A range of smart new digital strategies from different car retailers are driving trade at a tough time.
