Used Car Market Moving at Record Pace
March witnessed a flurry of activity in the used car market, with used cars selling at an unprecedented pace. Vehicles left forecourts in just 25 days on average. The used car market appears to be revving up as it enters the second quarter of the year. After setting new records, car dealers should be able Continue Reading…
What’s the Impact of ULEZ On the Used Car Market?
Sadiq Khan’s ULEZ changes are having a massive impact on motorists across London, is there worse to come? On August 29th 2023, London’s Ultra-Low Emissions Zone (ULEZ) expanded to reach out to the M25. London Mayor, Sadiq Khan’s decision was met with challenges from Conservative councils and concerns from other London councils, primarily centred on Continue Reading…
Is The Used Car Market Cooling Down?
Evidence appears to be mounting that used car prices are slowing. After a period of unprecedented rises data suggests that the used car market is at the very least stabilising. But should motor traders be fearing a crash in vehicle values? eBay Motors Group reports that average used car prices fell in March by 1.1%. Continue Reading…
Top 5 Stolen Car Models – UK Car Theft Trends
In recent years, car theft has become an increasingly prevalent concern in the UK, with criminals employing sophisticated methods to target vehicles across the nation. But what exactly are these thieves after, and how can you safeguard your own wheels from falling victim to their schemes? According to data analysed by Claims Management & Adjusting Continue Reading…
Cazoo Shifts Gears: From E-commerce to Online Marketplace
In the tumultuous realm of online commerce, adaptability often spells the difference between success and failure. Cazoo, once a rising star in the digital car dealership arena, is now making headlines for its strategic overhaul, but questions linger about its viability and direction. Founded in 2019 by serial entrepreneur Alex Chesterman OBE, Cazoo set out Continue Reading…
Why Car Dealers Face Plummeting Vehicle Values?
Car dealers are grappling with the challenge of depreciating vehicle values. Valuers at Cap HPI pointed to a drop of 4.2% in November. Various underlying factors are contributing to this trend. We take a close look to shed light on the issue. If your business buys, sells, repairs or modifies vehicles then Plan Insurance Brokers Continue Reading…
A Historic Drop In Car Prices Is Upon Us
Used car prices took a steep nosedive in October, sending shockwaves through the automotive industry. According to experts, the average value of a three-year-old car with 60,000 miles on the clock fell by a substantial 4.2%. This drop is equivalent to £850, marking the most signficiant fall since May 2011, over a decade ago. If Continue Reading…
Used Car Prices May Reach An All-Time Low
The rollercoaster ride for used car prices over recent years continues. Depreciation, the difference between a car’s purchase and resale value, has historically been pretty steady without much need for car owners to regularly review it. However, disruptions such as the semiconductor shortages and supply chain issues during the pandemic saw used car prices spike. Continue Reading…
New Data Reveals Most Profitable Vehicles for Car Dealers
New data has been published revealing the most profitable stock for motor traders. The information should prove highly valuable to dealers by steering them towards the vehicles they should be trying to get their hands on! So what makes and models came out on top? If your business buys, sells, repairs or modifies vehicles then Continue Reading…
The 10 Fastest Depreciating Cars of 2023
Depreciation is the difference between the price you pay for a new car and the amount you can recoup when selling it. Some cars hold their value well, while others experience rapid depreciation. We take a look at the the fastest depreciating cars this year. People often joke about cars losing half their value the Continue Reading…