Used vehicle values are being artificially inflated as competition hots up amongst buyers for nearly new and ex-fleet stock amid WLTP-related new car shortages, according to Shoreham Vehicle Auctions (SVA).
The Society of Motor Manufacturers and Traders (SMMT) has confirmed that supply shortages caused by manufacturers’ WLTP testing backlogs triggered a 20.5% decline in new car registrations in September.
Buoyant car registrations resulting from the September switch-over to WLTP and RDE fuel economy and emissions tests saw car dealers defy the usual August slump with a £200 average profit, ASE has reported.
New and used car markets delivered a sales surge in August as the introduction of WLTP and RDE fuel consumptions an emissions delivered “great value vehicles and finance offers,” enquiryMAX has revealed.
The Society of Motor Manufacturers and Traders has said that model changes and preparation for WLTP and RDE fuel economy and emissions tests were to blame for an 11% decline in UK car production during July.
Car dealers are set to miss their September new car registrations bonuses as a result of stock shortages sparked by the switch to WLTP vehicle emissions test regime, according to Coachworks Consulting.