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.
Motorists could face continued rises in electric vehicle (EV) insurance policy prices if carmakers fail to address batteries’ “unsustainable” performance in minor collisions.
Used car dealers are avoiding high value used cars for stock and only buying such vehicles to order, according to Aston Barclay.
Liquidators have listed 61 creditors owed a combined total of £1.14m after luxury used car retailer Autovogue slipped into liquidation this month.
Motorists are being driven into a ‘trade down’ mindset as they explore ways to save cash during the UK’s cost-of living crisis, according to research from V12 Vehicle Finance.
The number of car buyers who have bought a used car without seeing it first has doubled since the Coronavirus pandemic.
Used car buyers looking for an electric vehicle (EV) are prepared to wait up to 12 months for further price drops, according to new research.
Competitive pricing will help drive demand for emerging Chinese electric vehicle (EV) brands when they reach UK auctions as used cars, according to Aston Barclay.
Used car price growth accelerated to 2.3% year-on-year in a market that Auto Trader has asserted is in “robust health”.
Staff at Cazoo’s former SMH Fleet Solutions (SMH) used car refurbishment centre in Gloucester lamented the loss of the sprawling automotive business as it prepared to close its doors for the last time today.
Dealer Auction - the digital wholesale marketplace - has launched a promotion aimed at encouraging independent dealers to sell stock through the platform.
Used electric vehicle (EV) values have continued to decline as falling values dent dealer confidence but boost affordability for car buyers looking to make the zero emissions transition, Cap HPI has said.
Motorway set a new record last week when it sold a nearly-new Ferrari F8 to a dealer for £235,383.
BCA has reported that it expects used car values to “remain strong” after 1.7% month-on-month rise in February – despite growing volumes.
The Finance and Leasing Association has forecast a 6% decline in the value of the UK car finance sector in 2023 – with used car finance falling by 12%.
eBay Motors Group has said that dealers may have to "work their marketing harder" to reach car buyers earlier and maintain leads until potential customers are ready to buy.
Tesla has risked further hit to used car residual values and increases to monthly finance payments with further price cuts to certain models in its electric vehicle (EV) line up.
Used examples of Nissan’s Leaf electric vehicle (EV) have defied the recent slump in pre-owned EV values to top Dealer Auction’s Retail Margin Monitor rankings in February.
