The remarketing sector says the ongoing impact of Covid-19 and uncertainty around Brexit are making planning beyond the short term "almost impossible".
Copart UK is increasing its vehicle storage capacity, with an ambitious growth programme underway to allow strategic development and expansion across the UK.
BCA is extending its selling programme with the introduction of a new online sales programme starting tomorrow (Saturday, September at 19) at 9.30am.
Average used car values exceeded £8,000 for the third month in a row in August, with sold volumes continuing to rise, up by 3.9% over the month, reports BCA.
The average sticker price of a used car grew by 4.6% to £13,888 in July, marking the fourth consecutive month of price growth, according to data from Auto Trader.
Manheim Auction Services and Hitachi Capital Vehicle Solutions (HCVS) are hosting an exclusive online event on Friday, July 10, featuring a rang of quality cars and hand-picked heavy goods vehicles (HGVs).
Businesses are being advised to review their vehicle remarketing strategies to ensure they are prepared should lockdown measures be reintroduced.
Used car values for models less than two years old have dropped in June while prices for older, cheaper cars have risen, according to Cap HPI.
There are some encouraging signs that the used car market is performing well since lockdown restrictions were lifted.
Industry trade bodies have united to publish new safety guidance for the remarketing sector as businesses begin to re-open following the lockdown.
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.
Covid-19 is set to transform the used car market, with more vehicles being sold online at the expense of physical sales.
The used car market has suffered a decline of 8.3% amid the Coronavirus pandemic, according to new data from the Society of Motor Manufacturers (SMMT).
Used car values have fallen by 2.2% this month as retail and trade demand is affected by the Coronavirus crisis, according to Cap HPI.
BCA sales has announced all vehicle auctions will go online only to ensure the well-being of customers and staff in relation to the ongoing coronavirus crisis.
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.
The average values for fleet and lease, and dealer part-exchange vehicles rose to record levels at BCA in December 2019.
The used car market outperformed expectations in December, with values remaining the strongest since 2012.
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