The challenges facing the remarketing sector in 2020 is the subject of a major, free seminar that has been announced by the Vehicle Remarketing Association, which represents organisations involved in buying, selling and preparing 1.5 million used vehicles every year.
The retail motor industry must do more to educate customers on the wide range of fuel choices they now face, members of the Vehicle Remarketing Association were told at the organisation’s July member meeting. Both David Bailey, professor of business economics at the Birmingham Business School, University of Birmingham, and Rupert Pontin, insight director at Cazana, spoke at the event and highlighted how this process would be crucial to future sales.
Pre-registrations are returning to the new car market in a noticeable manner, members of the Vehicle Remarketing Association were told at the organisation’s July member meeting. Speakers Mike Jones, chair of ASE Global and Rupert Pontin, insight director at Cazana, both indicated in their presentations that late-month registration activity was increasing.
The UK new car market will fall by around 3.5 per cent next year to around 2.6 million cars, predicts Glass’s. However, while the figure looks disappointing in isolation, the vehicle data provider points out that this will still be higher than any year in the last decade except 2016.
The falling value of the pound is likely to see monthly PCP new car payments rise in 2017, predicts Glass’s. The vehicle data specialist says that manufacturers importing their vehicles into the UK will need to recoup margins somewhere and that PCP payments are the least unpalatable choice.
The August issue of Glass’s Guide will be the final print edition after 83 years of continuous publication interrupted only by the Second World War. After the publication of the 925th issue all Glass’s subscribers will access their car valuation information digitally through the Glass’s Guide App, a switchover process that has been underway since 2014.
Potential buyers of higher value used cars appear to be holding back until the outcome of the UK’s referendum on its membership of the European Union is known, according to vehicle data provider, Glass’s. The company is increasingly hearing anecdotal evidence from dealers that cars priced over £15,000 are struggling to sell; it suggests the potential withdrawal of the UK from the EU could be the cause.
The used car market is starting to reach the long-predicted tipping point into oversupply – with values coming under pressure as a result, reports Glass’s. Rupert Pontin, head of valuations, said that the volume of vehicles at auction had already increased by 3.7 per cent in 2016 and that a wide range of models were starting to fall in value as a result.
One of the less-frequently discussed consequences of the UK leaving the EU after June’s referendum is the effect on used car values, but leading vehicle data provider Glass’s says that there would be “significant uncertainty”, should this be the outcome, but points out that there are virtually no precedents on which to base the likely impact of a Brexit.
The growing popularity of 100 per cent road-going SUVs and CUVs is a recurring theme for Tyres & Accessories, and the latest report from Glass’s suggests that the used car market is increasingly amenable to some of the less lauded names in this field. Budget “soft-roaders”, as they are categorised in the survey, from less […]
Growth in the number and variety of finance packages available to private buyers is set to power the new and used car markets in 2016, predicts Glass’s. In the new car sector, which will see growth in registrations of around 3 per cent, further finance packages will need to stimulate consumer interest and provide new avenues to affordability.
According to Glass’s, publishers of the motor trade bible Guide, a falsely buoyant picture is likely to be painted by September’s new plate change – despite the probability that it will show the 42nd consecutive monthly increase in new car registrations. Glass’s add that the situation is being complicated by record levels of pre-registrations and there are some worrying factors about to come into play.
Central government and local authorities should think hard and look at the facts before making major policy changes in the name of in the name of achieving ‘green’ environmental improvements, says Glass’s. They point out that knee jerk reactions to studies showing the negative impact of diesel emissions on urban air quality could be counterproductive as well as affect sales and use of diesel cars and commercial vehicles.