Tag: used cars
Used car volumes set to increase in September due to plate change
National Association of Motor Auctions (NAMA) members are positive about the prospects of used cars following the number plate change. “More than 80 per cent of NAMA members are expecting vehicle volumes to increase or remain steady in September. The increase will be promoted by the number plate change with both dealer part-exchanges and leasing company de-fleets arriving at remarketing centres,” said Louise Wallis, head of NAMA, commenting on the latest figures from NAMA’s market attitude survey.
Conversion rates set to improve in August, predict NAMA members
The latest National Association of Motor Auctions’ market attitude survey has found that more than 50 per cent of members expect conversion rates to increase in August. “This has been assisted by the volume of vehicles coming though remarketing centres which has meant buyers have had less vehicles to choose from and has in turn increased conversion rates of those vehicles that are available to buy,” said Louise Wallis, head of NAMA.
Quality stock shortage means vehicle preparation importance growing – VRA
An increasing shortage of good quality stock in the used car sector means that there is a growing emphasis being placed on vehicle preparation for sale, says the Vehicle Remarketing Association.
Used car volumes expected to increase in May
The National Association of Motor Auctions (NAMA) expects used car volumes to increase in May through dealer part-exchanges and corporate de-fleets, according to the latest figures from NAMA’s market attitude survey. As volumes increase, auction houses are expecting first time conversion rates to fall as buyers have more cars to choose from. This is normal for this time of year following the plate change, and suggests the market is following the usual trend as the supply of vehicles grows.
Auctioneers expect volumes to increase in April
The National Association of Motor Auctions’ (NAMA) market attitude survey shows that most auction centres expect to see petrol and diesel car values remain stable, with only five per cent of respondents expecting a decrease in petrol prices and 15 per cent expecting a drop in diesel. Values of Alternative Fuel Vehicle (AFV) which include hybrid and electric vehicles are thought also to remain steady during April, although unlike petrol and diesel, some members have indicated that these values could actually increase as demand for them steadily rises.
NAMA predicts ‘strong February’ for motor auction sector
James Tomlinson, chairman of The National Association of Motor Auctions (NAMA), has revealed an optimistic outlook from the association’s latest sentiment survey. “February looks set to be a strong month for motor auctions, with the majority of sites expecting both volumes and conversion rates to increase,” he said.
2018 ‘best year ever’ for motor auctions
“The overall used car market reached record highs in 2018, despite pressures in the new car market with the introduction of the Worldwide Harmonised Light Vehicle Test Procedure (WLTP) in September”, said James Tomlinson, chairman of The National Association of Motor Auctions (NAMA).
Mycarcheck.com January 2019 market guide tackles Brexit ‘uncertainty’
Mycarcheck.com’s valuation experts have revealed significant trends in the UK used vehicle market, choosing a car and bike of the month.
New car diesel sales falling fast enough to cause potential shortages in future, says VRA
New diesel car sales are falling so quickly that there could be shortages of them on the used market in the near future, says the Vehicle Remarketing Association. The organisation, which represents companies that handle, sell, inspect, transport or manage more than 1.5 million used vehicles every year, says that while new car diesel demand has plummeted, corresponding used demand has stayed relatively firm.
Petrol car oversupply possible in the used market in the medium term, says VRA
The used car market should prepare for a potential oversupply of petrol cars in the medium term, says the Vehicle Remarketing Association.
Used car dealers should prepare for diesel-petrol shift in two years’ time, says VRA
Used car dealers should be starting to think about an inevitable shift away from diesel towards petrol that is likely to take effect in around two years, says the Vehicle Remarketing Association.
Industry ‘should remain calm’ over future of diesel values, says VRA
Diesel is likely to remain a crucial part of the motor trade’s fuel mix for the foreseeable future and the motor industry should “remain calm” over its future values, says the Vehicle Remarketing Association. The trade organisation – which represents companies that are involved in remarketing more than 1.5 million vehicles every year – says that there is every reason to expect that the values of most diesels will stay relatively stable.
Used car sales reach record high in Q1 2017
The UK used car market got off to a strong start in 2017 with a record number of vehicles sold in the UK in the first quarter, according to data released by the Society of Motor Manufacturers and Traders (SMMT). A total of 2,133,956 used cars changed hands in the first three months of the year, 3.4 per cent more than in 2016, resulting in the biggest-ever first quarter volume seen.
Used car buying survey shows shift away from private sellers
A survey of 1,289 mycarcheck.com customers has revealed a significant shift in where people buy used cars. 27 per cent of those surveyed in February said they preferred to go to a main dealer or car supermarket, up from 13 per cent of those asked the same question a year ago. The trade has taken this market share from private sellers, down to 35 per cent from 48 per cent the previous year, with independent retailers unchanged on 33 per cent.
2016 a record year for motor auctions
2016 saw record used car sales of 7.7 million and this translated into a very busy year for auctions, as dealers bought cars to fill forecourts to meet consumer demands. “Following what could be described as an uncertain political and economic climate, 2016 marked a strong performance from the UK motor auction sector”, commented Louise Wallis, head of The National Association of Motor Auctions (NAMA).