• Car enquiries slump by 17%
    • 25/05/2023
    • Posted by: Alan Feldberg
    • Category: News
    Automotive retailers experienced a 17.4% drop in new car enquiries during the first quarter of 2023. This is according to the latest data from automotive showroom management provider, Dealerweb, and marks the second successive quarter of declining new car leads, following a 30.1% fall, year-on-year, from October to [...]
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  • Drivers intimidated by used car confusion
    • 25/05/2023
    • Posted by: Alan Feldberg
    • Category: News
    New research has found that motorists do not understand how much buying a used car will really cost them, making the process intimidating, complex, and stressful. The report by digital bank Zopa highlights that over half of UK drivers (52%) will be in the market for a used car when it comes to buying their next [...]
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  • Used car prices still climbing
    • 16/05/2023
    • Posted by: Alan Feldberg
    • Category: News
    The latest data from Auto Trader has found that the current average price of a used car is £17,946, which equates to a 3.6% year-on-year increase on a like-for-like basis. It marks the highest rate of growth since November 2022, and the third consecutive month the rate of growth has increased, rising from 2.7% in [...]
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  • Used car market buoyant in first quarter
    • 11/05/2023
    • Posted by: Alan Feldberg
    • Category: News
    The UK’s used car market grew 4.1% in the first quarter of 2023 following three successive quarters of decline, according to the Society of Motor Manufacturers and Traders (SMMT). It found that 1,847,149 transactions took place, with 72,798 additional cars changing hands compared with the same period in 2022, as [...]
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  • BCA reports strong quarterly results
    • 20/04/2023
    • Posted by: Alan Feldberg
    • Category: News
    BCA has reported a strong first quarter for the used car sector, as average values rose for the third month running, sold volumes continued to increase and average weekly used car values reached their highest point so far this year.   Values averaged £8,939 at BCA in March 2023, up by £399 or 4.7% compared to [...]
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  • History matters for used car buyers
    • 13/04/2023
    • Posted by: Alan Feldberg
    • Category: News
    Three quarters of motorists would only buy a used vehicle that has a full or nearly full service history. New data by BookMyGarage has found that more than four-in-10 drivers (42%) would insist on a full service history, with not a single service missed, with 49% of those surveyed expecting a discount of between 10 [...]
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  • Retailers under-pricing used cars as demand grows
    • 11/04/2023
    • Posted by: Alan Feldberg
    • Category: News
    New data from Auto Trader has revealed that used car prices grew in March following 10 months of softening demand. Its Retail Price Index found the average retail value of a used car was £17,712 in the month, a two per cent rise on a like-for-like basis from 2022. Sales volumes were also up in the month, [...]
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  • Cost of living bites as car finance dips
    • 05/04/2023
    • Posted by: Alan Feldberg
    • Category: News
    New figures released by the Finance & Leasing Association (FLA) show that consumer car finance new business volumes fell in February 2023 by five per cent compared with the same month in 2022. The corresponding value of new business also fell by five per cent over the same period. In the first two months of [...]
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  • Drivers warned of long-term pain after short-term gain
    • 04/04/2023
    • Posted by: Alan Feldberg
    • Category: News
    A poll of 2,043 UK driving licence holders commissioned by The Motor Ombudsman has revealed that 73% would be more likely to buy a second hand car this year rather than a new one to help save money during the cost of living crisis. More than a quarter (28%) of these respondents also explained that it would be their [...]
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  • Average used prices on the rise again
    • 21/03/2023
    • Posted by: Alan Feldberg
    • Category: News
    The average retail price of a used car in March was up 2.3% to £17,720 in March. According to AutoTrader, this is up from the 1.3% year-on-year increase recorded in February, and marks the first acceleration in the rate of growth in 10 months. March’s level is also up 0.7% on February’s average prices, [...]
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