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.
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.
The UK’s used car market increased by 0.9% in Q3 after nine straight quarters of decline, new figures from the SMMT suggest.
By Rupert Pontin, director at Cazana
G3 Remarketing has reviewed its appraisal app after hitting 150,000 inspections two years after it was launched.
The Vehicle Remarking Association (VRA) is warning that outstanding manufacturer recalls in the used car market could attract the interest of Trading Standards.
Pricing experts at Cap HPI say that average used car values for 3years/60,000 miles models fell by 2% in June.
The headline used car value at BCA increased in May, with the average value of £9,262 just slightly ahead of April’s figure.
CBVC Vehicle Management’s Re-Lease used car solution is growing due to demand from company new starters or employees who have opted out of company car schemes.
The number of used electric vehicles (EVs) has grown by 27% since 2017, according to Cap HPI.
The Hyundai Tucson was the UK’s fastest-selling used car in March, according to the latest report by Indicata.
Fleet and lease values averaged £11,522 at BCA in February 2019, a modest increase of £69 over January, but a significant £730 (6.7%) uplift compared to a year ago.
The mileage of an average used car aged between 2.5 to 3.5 years old dropped from 39,583 miles in 2008 to 31,199 in 2018 – a 21% decline, according to Cap HPI.
A no deal Brexit is so close contract hire and leasing companies are now frantically reviewing what plans they have in place should the industry suddenly find it difficult to access the supply of key brands.
The used car market is predicted to fall to 2.02 million transactions in the first quarter of the year, according to new research from Cox Automotive.
Independent vehicle auction company, G3 Remarketing, has announced a record-breaking year for the business in 2018.
Average prices of diesel and petrol vehicles in the used car market rose to a record high in Q4 2018, reports Aston Barclay.
Family-friendly SUVs and crossovers were the fastest selling second hand cars of 2018, but Hyundai Tuscon tops the list, according to AA Cars analysis.
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