There are some encouraging signs that the used car market is performing well since lockdown restrictions were lifted.
Autovista Group has published a new whitepaper outlining how a report outlining the remaining battery life of an electric vehicle (EV) could improve its residual value.
By Andrew Mee, head of forecast UK at Cap HPI
Fleets urged to stagger vehicle returns to help lessen the impact of coronavirus on used car values, while dealers are warned not to cut new car prices.
Hitachi Capital Vehicle Solutions says the industry will have to ‘knuckle down’ if values are to be achieved in a post-pandemic used car market.
But the company urges caution, with volatile price movements expected over the next few weeks.
An expected surge of used cars into the wholesale market, as lockdown restrictions are gradually lifted, look set to be remarketed online.
Cap HPI has introduced a package of specialist services to help fleet and finance companies through the Covid-19 pandemic.
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.
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