Fleet remarketing - Page 8

Connected vehicle data will empower the remarketing sector by providing richer data about the health and mileage of ex-lease cars, according to epyx.

Used vans failed to reach their guide prices at auction, last month, as an influx of stock provided trade buyers with more choice.

Around one third of all cars on leased fleets have been extended which has continued to keep the market short of supply in Q1, reports Aston Barclay.

Mercedes-Benz Trucks has launched a new Certified brand to help provide buyers with “peace of mind” when purchasing used products and support packages.

The automotive market may never return to pre-pandemic levels, as new and used vehicle sales continue to be hit by several headwinds, warns Cox Automotive.

Scania is completely revamping its approach to used truck marketing under the Scania Go banner while second-hand stock is in short supply.

Used car values averaged £9,340 at BCA in March 2022, a drop of 5.9% when compared to February.

Matthew Davock, director of commercial vehicles at Cox Automotive, looks back on Q1 demand for used LCV stock at Manheim.

The National Association of Motor Auctions (NAMA) has outlined its plans to focus on the remarketing of alternative fuel and electric vehicles (EVs).

LCV values remained at near record levels in February 2022, with average values staying above £10,000 for the third consecutive month.

In an effort to minimise the carbon footprint of their remarketing activities, major fleets are increasingly seeking to reduce vehicle movements, says Epyx.

Tom Marley has been appointed the new CEO of the Aston Barclay Group, comprising Aston Barclay Remarketing and The Car Buying Group (TCBG).

UK used car transactions grew by 11.5% in 2021, with 7,530,956 units changing hands, according to new figures from the SMMT.

Sustained demand to service online shopping, home delivery and trade sectors saw values of LCVs achieve near record numbers at BCA in December.

Cox Automotive expects the wholesale van marketplace to ease over the next 12 months.

Government asked to pause funding to upgrade vans, taxis, coaches and minibuses, with access to new vehicles difficult and record prices in the used market.

Used LCV values rose during November at BCA as demand for vehicles to service the online and home delivery sector increased in the run-up to Christmas.

The remarketing sector is being urged to fully embrace the booster programme in order to remain as close to fully operational as possible in the New Year.

Aston Barclay is once again running its annual Christmas auctions during the busy festive period, including a dedicated online Zenith fleet sale.

Used vehicle values are unlikely to return to pre-pandemic levels, despite a softening of the market this month.

The used van wholesale market is beginning to soften after a year of record high prices and demand.

October saw stability in the LCV market with values averaging £9,861 as demand matched a ‘good level’ of supply across BCA’s sales programme.

Cazoo has agreed a long-term deal with Ogilvie Fleet, including the disposal of more than 18,000 vehicles at the end of their contract.

The ‘super centre’ in East Anglia is part of a major expansion programme to meet continued and growing demand from its insurer, fleet and dealer customers.

Used car values reached the second highest on record at BCA in October with the average car selling for £3,000 more than a year ago.

Used car transactions fell by 134,257 units compared to Q3 2020 when the easing of lockdown measures saw the market bounce back strongly, according to the SMMT.

VRA says the sector needs to meet expectations of used car buyers who have had to opt for a nearly-new vehicle rather than new, because of stock shortages.

ZenAuto, Zenith’s consumer business, will now offer used vehicles via personal contract hire (PCH).

A shortage of skilled workers within the remarketing sector is affecting the transport and logistics of vehicles, beyond the widely-reported HGV driver shortfall.

Short-term vehicle leasing and subscription products are likely to make a “significant impact” on the shape of the fleet market in the years to come.

Data from VWFS suggests more people are buying used SUVs in 2021 than in 2018, while smaller used models have fallen in demand during the same period.

Car auction houses are continuing to report record-breaking prices as demand in the used market remains buoyant with new car volumes continuing to fall.

Light commercial vehicle (LCVs) values continued at strong levels at BCA in August, averaging £9,874 over the month, the third highest average value on record.

High demand for trucks throughout 2021 suggests it will be a record year for used HGV prices, according to Cox Automotive.

A range of eight remarketing modules for motor finance, vehicle leasing and major fleets has been launched this week by Epyx.

August marked the third consecutive month where Manheim recorded a five-figure average selling price of a used van, driven by the expansion of London’s ULEZ.

BCA said in the past year, values have risen by £2,422, equivalent to a 32% uplift.

Euro 6 vans are achieving £2,245 or 22% more than pre-pandemic levels, says Cox Automotive.

JustGoEV has launched an online marketplace for new and used electric, plug-in hybrid and hybrid cars.

The need for self-isolation and recruitment issues are causing staffing shortages across the remarketing sector, according to the VRA.