Members of the National Association of Motor Auctions (NAMA) have told the organisation that it remains “business as usual” at their remarketing centres, despite the ongoing COVID-19 crisis.
Dealer Auction will supply digital auction services to Volkswagen Group UK's franchised car retail networks after signing a preferred supplier agreement with the German OEM.
Wilsons Auctions has launched a dealer stock funding service in partnership with V12 Vehicle Finance, part of Secure Trust Bank.
Increasing competition for used car stock from private sellers has been revealed in Motorway data showing year-on-year growth in the valuations – with EVs showing a 34% increase.
Auto Trader is set to roll-out a guaranteed part-exchange tool underwritten by Cox Automotive to its online car marketing platform.
The Vehicle Remarketing Association will cover a range of issues impacting a 2021 new and used car market which promises to be “difficult in all kinds of ways” in its upcoming outlook seminar.
BCA has been accused of “opening Pandora’s Box” by shifting its cinch online marketing platform to compete directly with its car retail customers in the online sales sector.
Motorway is offering car retailers 50% off broker fees on the first two purchases made through the Motorway Pro platform during October.
BCA’s average used car sale value at auction remained above £8,000 for a fourth consecutive month after values rose by 6.9% during strong September trading.
Used car retailers saw their stock turn accelerate by 10 days in September as average advertised prices rose by 1.8%, eBay Motors has reported.
BCA is promising to provide car retailers with "increased selling opportunities and efficiencies" with the launch of a new Retail Ready used car stocking channel.
Cap HPI’s head of valuations has said that the continued growth in used car values is “not sustainable in the long-term” - but may continue into 2021.
Almost a quarter of used car retailers have turned to Government-backed COVID-19 recovery loans or overdrafts to fund their forecourt stock since lockdown, NextGear Capital has found.
Sales in the used car retail sector showed signs of “cooling off” according to a market report which revealed declining in activity during August – with retail sales down 3.3% year-on-year.
Shoreham Vehicle Auctions (SVA) has welcomed physical buyers back to socially-distanced auction halls after preparing its locations to limit COVID-19 transmission.
Car dealers’ used vehicle stock levels have declined by 30% as post-lockdown demand among buyers leaves businesses “grappling” with the challenge of securing fresh product for their forecourts.
Motorway is providing free vehicle collection worth up to £500 for new dealers, to celebrate hitting the milestone of £1.6m in daily sales.
Retail ready used car stock is in “high demand” among car retailers seeking ways to speed-up their business’ COVID-19 recovery by taking advantage of a post-lockdown surge in demand.
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 post-lockdown surge in used car sales activity has put retailers ahead of the same period in 2019, according to data gathered by Indicata.