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Used car market facing unprecedented shift
- 19/03/2024
- Posted by: Alan Feldberg
- Category: News
A new report predicts that electric vehicles will make up 28% of all used car sales in the period between 2024 and 2027. According to the latest four-year market forecast published by Cox Automotive, up 2.3 million used EVs will be sold before 2027, representing a 160% increase in market share. Meanwhile, [...] -
Cost counts most for used car buyers
- 19/03/2024
- Posted by: Alan Feldberg
- Category: News
Cost is the driving factor for most motorists considering buying a second-hand car, according to a new poll commissioned by the Motor Ombudsman. It found that 58% of respondents said money mattered more than model or make. Meanwhile, the research also revealed that buying from retailers was the preferred option [...] -
Fastest selling used car named
- 15/03/2024
- Posted by: Alan Feldberg
- Category: News
New data has revealed the UK’s fastest-selling used car. According to Auto Trader, the SEAT Leon takes an average of just 10 days to sell, more than twice as fast as the national average of 26 days for used cars. The Vauxhall Crossland was second on the list with an average selling time of 10.5 days. Also [...] -
Demand outstripping supply in used car market
- 05/03/2024
- Posted by: Alan Feldberg
- Category: News
The used car market recorded a healthy uptick in demand and sales during February, according to data from Auto Trader. It reported that demand was up eight per cent in February compared to the same month in 2023, with used cars selling in just 27 days on average compared to 40 days in January. Supply levels also [...] -
Used car values inch up again
- 28/02/2024
- Posted by: Alan Feldberg
- Category: News
Average used car values at three years and 60,000 miles moved into the positive in February, according to data from cap hpi. An increase of 0.7%, or £50, represents the first month of growth since March last year. Values at the one-year age point increased by a 0.2%, while values at the five-year point went up [...] -
Kia XCeed becomes UK’s fastest selling used car
- 14/02/2024
- Posted by: Alan Feldberg
- Category: News
The Kia XCeed is now the UK’s fastest-selling used car. According to data from Auto Trader, it takes just 14 days on average for a retailer to sell it. The all-electric Tesla Model 3 and the Marcedes-Benz EQC are second and third fastest selling models, taking just 14.5 days to sell, while the Hyundai IONIQ is [...] -
NFDA optimistic for used car growth
- 09/02/2024
- Posted by: Alan Feldberg
- Category: News
The National Franchised Dealers Association (NFDA) is predicting further growth for the used car market in 2024, after new figures revealed sales growth of 5.1% last year. Sales were up 6.9% in the last quarter alone, to 1,679,116 transactions. Across the year, used battery electric vehicles sale surged by [...] -
Used car sales to seven million mark
- 08/02/2024
- Posted by: Alan Feldberg
- Category: News
The UK’s used car market grew by 5.1% to 7,242,692 transactions in 2023, according to the Society of Motor Manufacturers and Traders (SMMT). Four straight quarters of growth saw sales increase by 351,915 compared to 2022. Across the year, sales of used battery electric cars (BEV) almost doubled, rising 90.9% [...] -
Used car values up 10%
- 08/02/2024
- Posted by: Alan Feldberg
- Category: News
BCA has reported the first monthly rise in average UK used car values since last October. Average used car values at BCA improved by £679 in January compared to December, representing an increase of 9.8% over the month. Sold volume also increased significantly, with the final full week of January recording the [...] -
Demand strong for used cars
- 07/02/2024
- Posted by: Alan Feldberg
- Category: News
Both transactions and demand in the used car market grew in January, according to Auto Trader’s Price Index. But while prices are showing signs of stabilising, Auto Trader data revealed a price drop of 7.5% year-on-year (YoY) and like-for-like. This is despite a 6.1% increase in demand. This suggests that many [...]