Strong demand for used petrol and diesel cars continued in 2019, with sales of the latter down just 0.6% to 3,297,953 units and a 41.7% market share, says the SMMT.
A challenging used car market in 2019 has had a significant negative impact on the optimism of leasing companies for RVs in 2020, the FN50 survey suggests.
First time conversion rates continued to hold their own in December at 85.5%, data from Manheim shows.
The events of the past year look set to shape the industry for years to come, while a whole host of questions remain unanswered.
Used car values in November dropped 0.6% at the three-year, 60,000-mile point compared to the five year average of -2.3%, according to Cap HPI.
Residual values for used electric vehicles (EVs) are progressing at different rates with prices for cheaper models strengthening in the last 24 months.
Cap HPI has given the newly launched Volvo XC40 T5 Twin Engine plug-in hybrid market leading resale values.
Cap HPI's Live valuations have reported a positive average movement in used car values for the first time in 18 months.
ALD Automotive is launching a new funding model that will see electric vehicles leased to second and third drivers after the first fleet customer.
Automotive data expert Cap HPI is reporting that used car values fell by 1% in August, the smallest fall since March.
Used car values continued to drop this month, with a further 2.2% reduction at the three-year, 60,000-mile point according to Cap HPI.
Data experts don’t expect trend to continue after RVs fall steeply over recent months.
Pricing experts at Cap HPI say that average used car values for 3years/60,000 miles models fell by 2% in June.
Legislation is a “hard hitter” in determining residual values fleet decision-makers need to be sensitive to.
On average, used values fell by 3.1% in May at the three-year, 60,000-mile point, following a 2.3% drop during April, says Cap HPI.
It is likely that the proliferation of early churn on PCP cars is causing a bit of volume pressure in the retail market and thus also damaging ex fleet cars.
The used car market is undergoing a market correction, and the pace of change has accelerated in May, according to experts at Cap HPI.
The number of used electric vehicles (EVs) has grown by 27% since 2017, according to Cap HPI.
The new car position has been a disappointment for the fleet sector amidst hopes the economy would see an upturn as Brexit was settled. This has not been the case.
The Hyundai Tucson was the UK’s fastest-selling used car in March, according to the latest report by Indicata.
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