Motor Industry News
MyCarCheck.com/Trade Used Car Market Overview Jan 2014:
Disposable income earmarked for a new car now Xmas is over
- Unlimited car, van & motorcycle valuations for £99.99+VAT a year
- Accessible via smartphones and desktop
- For further details visit: www.mycarcheck.com/trade
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 festive season always causes a downturn in car buying activity. While it is accurate to report a downturn in used car sales during mid to late December, it’s the same story every year. The focus should be on January.
“Historically, the first week of the year sees a spike in sales activity. The job of hunting for Christmas presents is done and buyers turn their attention to car shopping. Dealers see a drastic increase in both forecourt footfall and internet and telephone enquiries – sure signs that the lull is over. Some traders have stocked up already, trying to buy while the market is slow – a smart move.
“The 4x4 market is buoyant as ‘exceptional’ weather – rain, rain and more rain – continues to makes headlines. Demand remains strong for Freelander, Q5 and X3. These are a prestigious, fashionable and practical solution for many. Values remain strong, even though Freelander has been around in its current guise for a long time.
“Kuga, CX5, Qashqai and their peers also remain popular. Qashqai is enjoying a similar success story to Freelander in that it’s been on the market for a good few years. It still looks fresh and is in demand, even though there’s a new model due. This car was the first on the scene and kick-started the ‘crossover’ market.
“We are still seeing a distinct lack of ready to retail vehicles in trade channels. This is keeping values strong across the board, as long as the car is in good condition with the right service history. There’s an increasing trend of traders buying more stock from private sellers, offering near to the private asking price – perfect if you’re a private seller as it’s usually a straightforward business deal, a less emotional purchase.
“At the 5-8 year old end of the market, we are still seeing one particular vehicle in very strong demand: The VW Golf Mk5. In diesel, especially the 2.0 TDi GT, buyers can’t get enough of good examples. High mileage seems not to put potential owners off, especially when combined with a full main dealer history and having had a cambelt change.
“Looking ahead, 2014 will see strong demand for used vehicles. Ready to retail stock will remain the key to top money. Our values haven’t dropped dramatically at the end of 2013 and into 2014. Only the usual undesirable models, such as the ageing A6, have seen a drop of around 3%, purely due to higher road tax costs and general maintenance.”
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 35 years’ experience in used car valuations. After a decade running a franchised dealership he spent 20 years at CAP where he was Senior Editor of the Black and Red books and co-founder of the Green book, then two years as editor of Parkers Guide before co-founding VIP Data valuation services.
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.