Motor Industry News
MyCarCheck.com/Trade Used Car Market Overview July 2013:
MX5 and MGF in demand as buyers seek cheap summer fun
- Unlimited car, van & motorcycle valuations for £99.99+VAT a year
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MyCarCheck.com/Trade is the trade valuations arm of CDL Vehicle Information Services. Based on cutting-edge industry data and feedback from independent and franchised dealers, these monthly bulletins highlight the most significant trends in the UK used car market.
Head of Valuation Services at MyCarCheck.com/Trade, Gavin Amos, commented: “The holiday season is upon us once again and retail buyers’ attention is turning to paying for that all-important summer getaway. The strangled supply of ready to retail used vehicles is ensuring most values remain steady. Older undesirables such as Mondeo and even E46 3 Series and B7 A4 are seeing reduced demand, so we have dropped their values by around 3% for July.
“The usual top performers, such as Q5 and Evoque, are still in high demand and premium brands such as BMW and Audi are already reporting that their new car allocations for the upcoming new registration month of September are close to full on many models. This has a knock-on effect in the used arena. Suddenly, when a buyer tries to order their new pride and joy and is hit with a wait of a few months, a late used or ex-demonstrator vehicle becomes a plausible option.
“There are some exciting new vehicles from leading manufacturers this year. Audi and Mercedes are set to go head-to-head with CLA and the eagerly awaited A3 saloon. On the face of it, these are just additions to already strong line-ups, however, they provide tempting alternatives to some of the most popular models.
“The new E Class has been well publicised recently, increasing interest in the outgoing model and ensuring that values remain strong. The Supermini sector kick, started by the new Mini some 12 years ago, is still very strong and will continue to strengthen. There’s plenty of choice out there and values on Mini, DS3 and the latest addition, Vauxhall Adam, are proving very strong. These cool fashion statements top many young buyers’ wish lists.
“Volume manufacturers have often been guilty of having very high list prices but then offering huge discounts to help them sell. Finally, this seems to be coming to an end. Vauxhall have announced new Insignia with much reduced on-the-road (OTR) prices. A very sensible move.
“At auction the most notable change has been a surge in interest in convertibles. Always a weather-sensitive market, the sunny days at the end of June prompted the kind of activity we would usually see during spring. Dealer groups are backing this up by reporting that enquiry levels for anything with a retractable roof are on the up. With many buyers looking for cheap summer fun, an early MX5 or MGF is sure to be snapped up.”
MyCarCheck.com/Trade provides buyers and sellers with all the vehicle price data they need: ready to retail, trade, average, retail and Cat D. As a free bonus, it also provides the annual road tax cost and key DVLA information, including the make, model, colour, engine size, body style, fuel type and date of registration.
Simply enter a car, van or motorcycle registration and the vehicle’s mileage to get an accurate valuation and additional information in an instant. Once signed up you can check as many vehicles as you like at no extra cost.
The MyCarCheck.com/Trade team includes:
Gavin Amos has 15 years’ experience in the used vehicle sector. After starting out at CAP he worked in several dealerships, progressing into management. He has hands-on experience of sourcing and disposing of stock, both to trade and retail customers.
Alan Senior has spent 34 years in used vehicle valuations. In 17 years at CAP he was Senior Editor for both the Black and Red books.
David Hill specialises in LCVs. He worked with Renault, LDV and Isuzu Trucks before spending 10 years as CAP’s Light Commercial Vehicle Editor then 5 years as national used vehicle sales manager for Iveco. He joined CDL in 2011.
Rob Hobson specialises in motorbikes and scooters. After leaving a dealer role to launch CAP’s Green Book, he worked in business development for Piaggio.
Gerry Clancy specialises in motor auctions. He has been selling trade valuation products since 1997 with both CAP and Glass’s.