NEWS

CAR buyers are turning from the new luxury car market to the nearly new sector – and saving a third. Motorpoint says that, during the first quarter of 2009, sales of posh used motors are up by 30 percent. This is because of nearly new savings topping 30 percent, says the company. Helping offset evidence [...]

FINANCE for UK retail cars has fallen by nearly 60 percent in just five years, reveal new findings. Trend Tracker has discovered the dramatic decline has been led by direct lending, which has plunged much faster than dealer finance. In its annual UK retail car finance market study, the organisation has discovered that £22.8 billion [...]

CAR buyers are ignoring large-engined used cars and favouring more economical models instead. Glass’s data shows that unprecedented rises in eco-car used car prices have not been carried through to the big engine sector. Larger cars have been particularly hit. A 2008 Vauxhall Vectra Design 1.8, for example, is worth £7650. The same car, with [...]

GLASS’S says car dealers have little to fear from plunging nearly-new residuals caused by the new car scrap scheme. Why? Because, said Adrian Rushmore, most customers already looking to buy a nearly-new car will NOT be existing owners of 10-year-or-older motors. They therefore will NOT be eligible for the scrappage scheme. ‘For this reason, demand [...]

FORD’S all-new Fiesta has just been launched to the BCA used car auction halls – with its baby sibling, the new Ka. BCA Nottingham handled the sale, which Ford said generated ‘excellent’ results. 15 new Ford Fiestas averaged 85 percent of list – and BCA claimed there were some highlights from the sale: •    Fiesta [...]

SEAT has, for a while now, been posting some impressive used car market retained value figures. This has continued into April, as the Spanish brand reports a ‘major increase’ in RVs. Some SEATs, says CAP, are worth 14 percent more than a month ago. Models on the up include: * SEAT Ibiza 1.6 SE: +14 [...]

BCA says that, for the fifth month running, used car prices have risen – but the rate of rise is slowing. This has led the auction house to sound a note of caution: the market may be a bit more fragile than some reckon. Values have risen by 18 percent since last October, but the [...]

USED car prices are rocketing at a rate double that of FALLS normally seen at this time of year! CAP says April generally sees a fall of 2 percent in trade values. However, in 2009, values have INCREASED – by a staggering 5 percent. What’s more, for 3 year old cars, the average increase is [...]

USED car prices are continuing to go up, reports BCA – a trend that’s been underway since November. What’s more, the pace is, if anything, quickening. ‘The average price of used cars sold at BCA has been rising across the board since late last year, but the market really stepped up a gear in January,’ [...]

1LINK Disposal Network has been further boosted by the addition of three major fleet companies. CLM Fleet Management, Inchcape Fleet Solutions and Volkswagen Financial Services have all signed up this month, vastly increasing the sales platform’s reach. It allows all the major fleets to deal their old stock directly to car dealers. Owners epyx are [...]

TRADE-IN cars that smell of cigarette smoke should be avoided, if car dealers are to protect their wealth. BCA has reminded car dealers to send out their most highly trained noses to sniff out the motors – as recent evidence shows such cars really do struggle to sell. This is despite the trade’s current flurry [...]

BENTLEY dealers are coping in a tough market by turning to the used market – but it may be under threat. A spokesman revealed that, so far in 2009, Bentley dealers have continued to sell cars. Bentley Manchester alone, for example, has sold nearly 50 cars since the start of the year. Many of these [...]

DIESEL cars are still worth more than petrols on the used market, reports auctioneers BCA… for now, that is. However, the gap is beginning to diminish – and may in time disappear. This is because so many fleets are choosing diesel models instead of petrol ones, due to the savings and tax benefits they offer. [...]

KIA has startled the Car Dealer Magazine office, with quite possibly the used car warranty of the century! Next month, used car buyers choosing an Approved Used Kia will get the warranty TOPPED UP to the same level as if they were buying from new. This means that cars up to 18 months old will [...]

CITROEN’S brand rejuvenation is continuing, as the maker launches a new initiative for used car sales. Following on from its recent new car rejig, the same overhaul is being applied to the used car network, under the Citroen Select banner. This, says the company, will boost used car sales for car dealers. The aim is [...]

USED car values have stabilised, says BCA – with December auction values up for the 2nd month running. This comes after large falls earlier in 2008, which means that ‘used cars currently remain exceptional value for money.’ It also runs counter to big rivals Manheim, which reported a fall in December values. However, says BCA [...]