NEWS

BCA reports that posh motors continue to make good money at auction despite the economic uncertainty. A 2008 Rolls-Royce Phantom Drophead Coupe has just sold for £195,000 at a sale for Lex Autolease. It was the top draw in a 266-car posh motor auction, that saw more than £4m raised on the day. The average [...]

STOCK shortages mean franchised dealers must scrap long-standing procurement policies says Glass’s. Until now, franchised dealers have typically shied away from cars older than 3 years. Higher-mileage motors have also been a no-no. Those days are gone now though, says Glass’s. Car dealers can’t afford to be so picky, as a dramatic reduction in used [...]

CAP has appointed Chris Crow as chief editor to help improve processes and roll out new and improved products. He boasts 16 years’ experience in the contract hire and leasing industry. This, says CAP, will help him communicate better with one of its chief customers. During this time, he’s been a CAP user himself, and [...]

USED values have dropped to their lowest point in over a year which has led to one car dealer to issue a striking call. Auction4Cars is telling customers that there has never been a better time to buy. This is because used car prices have declined equivalent to a 20 percent fall since the highs [...]

USED car prices will follow their usual patterns over the second half of 2010 despite the risks of falling demand. Glass’s says the trend that’s been set in the first half of 2010 will continue, even though the economic outlook is on the bleak side – and despite steeper-than-average falls in May and June. Thus, [...]

USED car sales fell 7.6 percent in Q1 2010 reports Experian, with upper medium sales leading the decline. They were down a hefty 12.2 percent, with MPV sales next in line with a 10.6 percent decline. Experian Automotive head of sales Mark Wilkinson said a decline in new car sales during 2009 means the industry [...]

USED car buyers are prioritising reliability more than ever when making their secondhand buying decisions. RAC Warranty says ‘safe’ choices that will not have big bills in store are becoming the order of the day. It’s because buyers are more anxious than ever about the effects of the recession, said sales and marketing director Ian [...]

VALUES of used cars have fallen by 4 percent in recent weeks as secondhand market trading conditions drop. CAP says the downturn is due to a tail-off in retail demand and a fall in quality of cars coming onto the market. There are also now more nearly-new cars coming to market, which is having a [...]

USED car buyers are returning to the market but also continuing to seek the protection of a longer warranty. The trend to choose longer and better warranties than before the recession has not abated, reveals RAC Warranty. This is despite a used car sales upturn showing market confidence in general is much better than it [...]

SEAT car dealers are holding a special Bank Holiday used car event with sharp deals on key nearly-new cars. The SEAT Exeo family saloon is being offered from prices starting at £15,250. This will get used car buyers a 2.0 TDI 143 SE model – with 2 years’ free servicing thrown in for free. 4.9 [...]

BCA and Manheim disagree on used car prices with one saying they’re down and the other saying they’re up. BCA says average used car values increased in April by 1.4 percent. Manheim says they fell in April by 2.3 percent. However, despite the disparity, both car auction houses agree on one thing – pressure is [...]

NETWORK Q is celebrating 20 years of business with a week of incentives and dealers across the used division’s 360 retailers. Running from 8-16 May, the campaign will include a large array of used models, focusing on Vauxhall – including the Car of the Year title-winning Insignia. SE and SRi Insignias will line up in [...]

PREMIUM car values are continuing to thrive despite fuel prices hitting a record high across the country. Glass’s reports values seem unaffected by posh luxury cars, supercars and SUVs being some of the least fuel efficient cars around. What’s causing this odd trend? The ending of the feel-bad factor, combined with the slow rise of [...]

RISING prices of new cars means car dealers must be switched on to the needs of used car buyers. Network Automotive says new prices have risen to ‘historically high levels’, despite consumer confidence remaining low. Factor in the risk of unemployment plus many people not getting a salary increase, and you’ve growing numbers of buyers [...]

STOCK shortfalls of used cars will be the overriding cause of anguish for used car retailers in 2010. Weak new company car sales in 2008 and 2009 mean there will be fewer 3 year old cars available in coming years. Carsite.co.uk revealed the trend, and warned the used car market is thus set for a [...]

ELECTION fever will reinforce the regular late-spring slowdown in the used car market warns Glass’s. As buyers become less certain, they curb their retail spending – and this includes cash on new cars. This means May 2010 could be a difficult month for the UK used car industry. ‘In the weeks before and after the [...]

VALUES of secondhand 4x4s and other large and thirsty cars are set to fall in the next 6 months as fuel prices rise. Online retailer carsite.co.uk says fuel prices edging over 120p per litre will mirror a downturn seen in 2008. This was when fuel prices last hit a peak – and ‘the additional financial burden [...]

NETWORK Q is marking its 20th anniversary in 2010 by undergoing the biggest refresh in its history. The overhaul has come because the used car division had ‘lost its way’. Car Dealer Magazine spoke to Network Q used vehicle sales director Karl Howkins, who admitted that a number of rival manufacturer-backed used car programmes had [...]

USED car prices are still rising but the rate of improvement has slowed to an average of just £20. BCA reports the marginal average rise equated to an average month-on-month increase of 0.3 percent. Why the slow in improvement? Well, it’s not because the market is losing enthusiasm, says the BCA Pulse report. It is [...]

CAR dealers will face a severe shortage of used car stock in 2010 due to plunging new car sales. Supplies of 1- and 2-year-old cars are to face a ‘major reduction’. Scrappage has compounded the problem further, warns Glass’s Guide editor Adrian Rushmore  – 300k new car sales were generated from it in 2009, but [...]