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.
Delivering his analysis on the motorbike, scooter and moped sector, My Car Check’s Rob Hobson said: “The Triumph Speed Triple has always hit the mark as a fantastic road bike and the 2016 model is the best yet. They’ve improved it in virtually every department, notably in build quality and finish. A well maintained Speed Triple of any age can represent great value. Just check to make sure the one you’re looking at is what it claims to be, especially when buying privately.”
Head of valuation services at My Car Check, Gavin Amos, has named the Honda Civic as his car of the month, saying: “The Honda Civic is often overlooked in favour of the Ford Focus, Volkswagen Golf and Vauxhall Astra, but it drives well, competes in terms of emissions and fuel consumption, and can be a great fit for those wanting something a bit different. Check to make sure the one you’re looking at is clear of finance and not previously written-off, especially the very rapid Sport variants.”
A split between “two tribes” of trade buyers – those who buy almost entirely online and others who remain motor auction-based – is becoming increasingly apparent, says Glass’s. The motor industry data market leader reports that there has been a noticeable hardening in the shape and attitude of both groups over the last year or so.
The traditional winter surge in values for 4x4s has failed to materialise again this year and may no longer be a feature of the market, reports Glass’s. The last few relatively mild winters has meant that there has been no spike in retail demand, explained Rupert Pontin, head of valuations.
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.
Cooper Tire & Rubber Company has reported the results of its long-awaited independent valuation of Cooper Chengshan (Shandong) Tire Company Ltd (CCT). The valuation, which is also the option price, was determined to be RMB 2.722 billion roughly US$440 million at the current exchange rate.