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Retailers leaving £31m on the forecourt
- 23/01/2024
- Posted by: Alan Feldberg
- Category: News
Data from Auto Trader has suggested that retailers are missing out on a potential £31m in profit due to under-pricing. It found that across 8,000 retailers, about 47,500 cars are being advertised below their respective retail market average, meaning retailers could miss out on £4,000 in potential [...] -
Stability returns to car sales
- 15/01/2024
- Posted by: Alan Feldberg
- Category: News
Cox Automotive is predicting a more stable year for new and used car sales, after a period of volatility. It expects 2,020,050 new vehicle registrations in 2024, an increase of 6.1% year-on-year, with 7,350,205 used car sales for the full year. Insight director Philip Nothard said: “The SMMT’s latest figures [...] -
Demand grows as prices tumble
- 08/01/2024
- Posted by: Alan Feldberg
- Category: News
Demand for used cars rose 11.7% in December while average values fell 5.6% to £17,064, according to Auto Trader’s Retail Price Index. Data revealed that one to three-year-old cars saw a huge 35% rise due to the 16.1% increase in demand far outpacing the 14.3% fall in supply, while the three to five-year-old [...] -
Tesla Model 3 tops EV charts
- 04/01/2024
- Posted by: Alan Feldberg
- Category: News
New research has revealed that the Tesla Model 3 was the most popular electric vehicle in the UK last year. According to millions of searches on the cinch website, it topped a poll of EVs and hybrid models, ahead of the Toyota C-HR, Nissan Leaf, VW Golf and Mitsubishi Outlander. Also in the top 10 were the Hyundai [...] -
Used car price gap impacting stock levels
- 02/01/2024
- Posted by: Alan Feldberg
- Category: News
New data has found that dealers are struggling to replenish used car stocks as sellers are valuing their vehicles too highly. Used car prices fell about 20% last year, but many private sellers are not aware of the market slow down. According to used car trading platform HonkHonk, which connects sellers with [...] -
Vauxhall Adam most crashed car of the year
- 27/12/2023
- Posted by: Alan Feldberg
- Category: News
New research has found that the Vauxhall Adam was the most damaged vehicle in the UK during 2023. According to carVertical, the Vauxhall Adam was the model most likely to have been involved in a crash this year, with nearly 40% of used models that drivers considered buying requiring repairs. Its analysis found [...] -
Used car values continue falling
- 22/12/2023
- Posted by: Alan Feldberg
- Category: News
Used car values at three years and 60,000 miles fell by 2.1% in December, adding to a cumulative drop of 8.4% over the last two months. According to cap hpi, values dropped by 1.8% or £550 at the one-year age point, while at older ages there was a 2.1% (c£250) drop at five years old and just a 1.4% (£75) [...] -
SORN vehicle values worth a fortune
- 18/12/2023
- Posted by: Alan Feldberg
- Category: News
UK drivers could be sitting on about £11.2bn tied up in unused cars, a new study estimates. According to Carwow, there are now over three million cars with a SORN (Statutory Off Road Notification) declaration in the UK with a potential average value of around £3,264. And even if every registered SORN car was [...] -
Bumper year expected for car sales
- 18/12/2023
- Posted by: Alan Feldberg
- Category: News
Auto Trader is predicting that the new car market will grow four per cent next year from an estimated 1.89 million in 2023, to circa 1.97 million. It expects the sale of EVs to also rise substantially, with the strict ZEV Mandate requiring 22% of all brand sales to be zero emission or face a fine of £15,000 for [...] -
Used car values fall again in November
- 05/12/2023
- Posted by: Alan Feldberg
- Category: News
Auto Trader data has found that average used car retail prices contracted 3.8% on a year-on-year in November. This is the third consecutive month of falling prices, with a fall in retail prices among younger aged models pulling the overall figure down; cars aged below five-years-old recorded a six per cent drop in [...]