New car registrations were down almost 30% due to reduced demand and severely impacted new car supply - used car sales were also down.
A degree of stability seems to be returning to the UK used car auction market, finds forecast editor at Glass's, Robert Redman.
Desire to be eco-friendly encourages shorter LCV replacement cycles
The latest figures released by the Society of Motor Manufacturers and Traders (SMMT) showed that registrations in August declined by 5.8%, suggesting another very disappointing month for the industry.
By Jonathan Brown, Editor at Glass’s
By Rob Donaldson, car editor Glass's
Legislation is a “hard hitter” in determining residual values fleet decision-makers need to be sensitive to.
By Glass' car editor Rob Donaldson
By Glass's new car editor Becca Platt
Values for used Mitsubishi Outlander PHEVs have remained strong this year, despite a dip in 2017.
Adrian Rushmore is leaving his role as editorial director at Cap HPI in September.
Fleets considering cars with advanced bi-xenon or LED headlamps need to balance the potential cost of repair against the safety and residual value benefits they bring.
Glass’s has replaced GlassMatix with a new repair estimating system, called Repair Estimate, which promises faster calculations.
The UK new car market is predicted to fall by around 3.5% next year to around 2.6 million cars, according to Glass’s.
Hybrids are likely to be a passing phase in car technology that will be surpassed by electric vehicles in a matter of a few years, predicts Glass’s.
Fleets "hanging onto" cars and vans in an attempt to achieve unrealistic and inflated valuations are causing distortions in the used car and van markets, says Glass's.
Getting car valuations right involves 9.5m observations but there is no substitute for experience.
The final print edition of Glass's Guide will come off the presses next month after 83 years of continuous publication interrupted only by the Second World War.
The UK's decision to Brexit probably won't materially start to affect the UK used car market until the fourth quarter of 2016, say Glass's.
A much larger electric vehicle charging infrastructure is one of the main developments required if electric vehicle residual values are to become competitive with petrol and diesel, says Glass's.
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