Car retailers have been urged to show support to cash-strapped car buyers as more than a quarter take longer to assess affordability amid the cost-of living crisis and the viability of alternative fuel vehicles (AFV).
The Fiat 500 city car’s consistently strong value as a used vehicle has secured it an historic overall win in Cap HPI’s first ever data-driven Used Car of the Year Awards.
The used car market’s supply of electric vehicles (EV) has fallen 59.1% (100 days) in 2023 thanks to a reduction in prices, according to Indicata UK’s latest Market Watch report.
Auto Trader has called for incentives and tax breaks to make electric vehicles (EV) more affordable and put the UK Government’s plan to ban pure petrol and diesel vehicles by 2030 “back on track”.
Used cars ended Q1 with a third successive month of rising values at BCA auctions after what chief operating officer Stuart Pearson described as a “very encouraging start to 2023”.
Members of the Vehicle Remarketing Association (VRA) will gain insight from the Office for Zero Emission Vehicles (OZEV) head of vehicle policy at a meeting later this month.
The UK car retail sector’s best-performing used cars are set to be celebrated when AM reveals the Cap HPI Car of the Year Awards winners later this week.
Used electric vehicle (EV) buyers can afford to be more aspirational with their car purchasing plans thanks to value declines that have impacted premium products hardest, according to Cap HPI.
Lexus was the used car brand that delivered most to car dealers in March, ahead of Subaru and Land Rover, according to data from trade sales marketplace Dealer Auction.
The Motorpoint used car supermarket group has revealed record revenues totalling £1.44 billion from its 2022 financial year in a trading update published this morning (April 6).
The under-pricing of used car stock cost UK car dealers £25.5 million in missed retail opportunity in March alone as average values continued to rise, Auto Trader data shows.
Lookers chief operating officer Duncan McPhee has said the AM100 PLC is ready to accelrate growth through acquisitions and the creation of a Lookers Car Hub used car operation.
The Finance and Leasing Association has predicted a 6% decline in car finance during 2023 after new business volumes declined 5% in February.
Aston Barclay has partnered with the Energy Saving Trust to launch a new monthly electric vehicle (EV) auction - with an educational slant.
Car dealers should be working to promote the benefits of condition and history checks, warranties and consumer rights as two-fifths of motorists consider turning to a private seller in an effort to buy a bargain used car in 2023.
Average used car stock levels fell for the third consecutive month, in March, reaching a six-month low, according to eBay Motors.
Peter Vardy has celebrated a five-star start to sales from the newest addition to its Carz used car retail division – the former Cazoo handover centre at Grangemouth.
Carwow’s online car buying and selling marketplace has seen an increase of almost 150% in the number of used cars bought by dealers, in March.
Cazoo founder Alex Chesterman said he was “incredibly proud of everything the team at Cazoo has achieved” in a financial results statement that revealed the online used car retailer’s £704 million losses for 2022.
Declining values among older, more affordable used cars could be an indicator that the market is set to dip after March delivered another decrease in average vehicle prices, according to Cap HPI.
