Motor Industry News
MyCarCheck.com/Trade Used Car Market Overview Oct 2014:
Values buoyant as new plate generates extra sales activity
- 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: “Main dealers always look forward to the extra activity of a ‘new plate month’ and September proved to be no different. Granted, there’s nowhere near as much hype now as during the days of a single plate change per year, but the feel good factor still exists in March and September. So, what does this mean for used cars? The cabriolet market naturally shrinks at this time of year, but across the board values remain buoyant.
“Last month we talked about internet-based car buying companies taking a lot of the ‘bread and butter’ potential part-exchange vehicles away from dealerships. The fact remains that a new registration month still generates a spike in fresh stock. Dealer workshops are under pressure throughout September, meeting the day-to-day retail demands as well as preparing new vehicles for delivery. As such, the part exchanges are often left on the backburner. October is the time for playing catch up. The focus goes back onto used car sales, getting these part exchange vehicles prepared and advertised for sale.
“As we head towards winter, many trade buyers will be considering what represents ‘the right stock’ to have on their pitch. 4x4s tend to remain strong towards the end of the year, although many were stung last winter having stocked up ready for snow that never came. This year we think there’ll be far less stocking up in advance, so 4x4 values will soar if severe weather returns with a vengeance.
“With the announcement of the new Land Rover Discovery Sport, Jaguar Land Rover finally has a new compact SUV to replace the aging Freelander. The brand is very much on a high and the Discovery Sport looks like being another very significant model. Meanwhile, the Freelander continues to demand high values in the used arena and, while the new model will have an impact, it shouldn’t be anything to panic about. The trade has seen this coming and been buying accordingly over the past few months.”
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.
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.