Fleet remarketing - Page 7

The Vehicle Remarketing Association (VRA) says the used vehicle sector faces a “difficult” 2023.

Used LCV values averaged £9,674 at BCA in October, down £15 on September’s figure and underlining the good balance between supply and demand, reports BCA.

The high price of electric vehicles (EVs) is a concern for dealers when it comes to the electrification of the used car market, new research suggests.

The used LCV market delivered a strong Q3, with van prices outperforming the first two quarters of the year, surpassing 2019 averages by 69%.

UK used car transactions fell for the second consecutive quarter this year, declining 12.2% over the three months of July to September, according to the SMMT.

Average used light commercial vehicle (LCV) values fell by 1.8% (£177) in September, down from £9,864 to £9,687, according to BCA.

The UK’s used van market saw prices rise in Q3, the first increase in 2022, according to figures from Aston Barclay.

Turbulent market conditions in the new vehicle market will become the norm for the foreseeable future, according to Cox Automotive.

However, Manheim does expect stock shortages throughout Q4, as many fleets forecast increased demand to coincide with winter and the Christmas period.

All sales are now open to physical trade buyers or can be attended online via Simulcast.

The average age of wholesale vehicles in August 2022 was more than 104 months compared to just in excess of 96 months in August 2019, according to Manheim.

Following two successive monthly increases in value, average used LCV values at BCA moved to more seasonal levels in August.

The remarketing sector needs to prepare ahead of the arrival of used electric vans in large numbers, Vehicle Remarketing Association members have been told.

The most desirable used cars in demand in September were premium SUVs, 4x4s and saloons, according to the latest Aston Barclay desirability index.

Coeus Software has launched CheckPlate, a new mobile Automatic Number Plate Recognition (ANPR) vehicle stock audit solution.

Average light commercial vehicle (LCV) values at BCA increased by 4.2% month-on-month in July, following a 3% rise in in June.

Warrantywise has revealed the least reliable used car makes and models in the UK in its annual reliability index.

The used van market returned a strong performance in July, according to Cox Automotive, as both average values and volumes increased at auction.

Total Motion Fleet Management has chosen to work with Motom to complement its vehicle remarketing activities.

A shortage of electric vehicles (EVs) entering the used car market will drive residual values higher, according to analysis by Indicata.

The Land Rover Defender has topped Aston Barclay’s used car desirability index, this month, as the most in-demand model.

Used light commercial vehicle (LCV) prices fell in Q2 by 1.6% as the market remains stable according to Aston Barclay’s used market report.

Private registrations grow market share as companies struggle to source cars.

Philip Nothard, chair of the VRA and insight and strategy director at Cox Automotive examines what factors are impacting the sector.

Cox Automotive has revised its quarterly and full-year used car market forecasts to reflect the changing shape of the market better.

Average LCV values at BCA rose by 3% in June 2022, the first month-on-month rise recorded this year.

Motability Operations has acquired Fleet Auction Group’s 22-acre facility on the Stephenson Industrial Estate, in Coalville.

Zenith has extended its contract with Manheim Auction Services to carry out the remarketing of its commercial vehicles.

Heycar and automotive media business Autovia have announced a new commercial partnership for Autovia's BuyaCar platform.

The volume of used diesel cars going under the hammer reached an all-time low in Q2, according to Aston Barclay’s latest monthly used market report.

Used car supply may never return to anywhere near its pre-pandemic levels due to changing manufacturer strategies, says the Vehicle Remarketing Association.

Copart UK has acquired Hills Salvage and Recycling for an undisclosed sum, with plans to scale up its green vehicle parts offering.

A shortage of used cars will keep values at a higher level for the next two to three years, according to auction firm SVA.

Tusker urges the Chancellor to keep BIK rates low, BP Pulse launches a new home smart EV charger and RAM Tracking signs a fuel card cooperation agreement with BP.

BCA has introduced a new vehicle export service for its Republic of Ireland (ROI) customers.

VRA issues used car supply warning with manufacturers diverting the supply of new cars away from fleet towards more profitable private sales.

The funding will support zero emission community transport and car clubs in addition to funding interest free loans for electric vehicles (EVs).

Lower volumes of stock and longer vehicle retention will lead to a softening in the used car sector in the second half of 2022, the Vehicle Remarketing Association (VRA) says.

Used LCV values remained above £10,000 for the fifth consecutive month in April as trading remained stable despite ongoing external economic pressures..

Mark Hankey joins Aston Barclay as its new chief revenue officer and Whistl appoints Andy Underwood as managing director of Whistl Parcels.