Motor Industry News
MyCarCheck.com/Trade Used Car Market Overview May 2014:
Used car values robust with no sign of traditional seasonal dip
- 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: “As summer approaches many potential used buyers turn their attention towards paying for their holidays, so retail activity usually slows. Strangely, this year it probably won’t have a huge impact on the trade. The ongoing shortage of retail stock and still large pool of buyers will mask any decrease in demand. As a result, the traditional seasonal dip in used values will be far less pronounced. In fact, it might not happen at all.
“A lot of manufacturers are launching important new vehicles this year and one of the most popular is the Nissan Qashqai. This car invented a new sector when it was launched back in early 2007. Since then it has gained an almost cult following as ‘the Golf of the crossover sector’. Pull up anywhere and nobody will look down their nose at a Qashqai. This success has continued with the new 2014 model. There are plenty to be seen on the roads already and demand is exceeding supply.
“Buyers in the market for the previous model Qashqai currently have extra choice from the part exchange vehicles coming in against the new model. This slightly increased supply hasn’t had a negative impact on values though. There are two good reasons for this: demand is very high and also Nissan did a good job of running the old vehicle supply out without offering a field full at huge discount.
“There is a lot of talk about used values plummeting in the near future, but we at MyCarCheck just can’t see it happening. The trade and dealers remain positive, there’s still a used vehicle stock shortage and the housing market is performing better too. Although not connected directly with the car industry, historically the housing sector has been a great gauge for the feel of the market.
“Times will no doubt change as interest rates creep up, but for the foreseeable future used car values seem robust. Only older less practical vehicles have seen a substantial drop in valuation this month. The likes of a 206cc Ford Streetka are down around 3% simply due to lack of demand.”
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.