Motor Industry News
MyCarCheck.com/Trade Used Car Market Overview Dec 2014:
Minor downward adjustment to trade values, except for 4x4s
- Unlimited car, van & motorcycle valuations for £99.99+VAT a year
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- 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 is upon us once again. It is traditionally a time when buyers are out shopping for presents rather than cars. However, the days between Christmas and New Year can see reasonable showroom activity as families opt for some retail therapy after the main event.
“Generally, there is a relative shortage of prime used stock, so traders are still paying quite strong money for the right cars. We have therefore made only a minor downward adjustment, in the region of 1-2% on trade values, based on the time of year and the slowdown in showroom traffic.
“Most traders are already focusing on January, when the market begins to pick up properly. With this in mind, now is the time to stock up. The more forward-thinking traders will be looking to snap up convertibles while trade bids are lowest and there’s greater choice.
“4x4s values have firmed up pretty much across the board, although there is concern about the extent to which the weather influences this sector.
“Two years ago the market was caught out by severe conditions across the country. Demand went through the roof for even the most tired four-wheel drive vehicle. As a result, many in the trade geared up by buying stock early last year, but the weather remained mild and the anticipated sales didn’t happen. It’s a catch 22 situation: chance it and buy only if the need arises, or stockpile in the hope that it does.
“On this note, Suzuki has just unveiled the all new Vitara and is preparing to take on the likes of the Nissan Juke. While unlikely to rival the Juke in terms of sales, it expects to grab a reasonable slice of the important SUV sector.
“At this time of year there’s usually a heightened number of pre-registration vehicles on the market as manufacturers push for year-end targets. In truth, there has been such a focus on new car incentives and discounts in recent months that this won’t really affect late model used values yet, if at all.
“Interestingly, we have seen more main dealers willing to retail 10 year old plus low mileage cars of late. There has been a trend towards retailing cars which would have previously gone straight to auction, but here we are talking about much older cars. One example was a trader who retailed a 14 year old Land Rover Defender, earning a significantly higher margin than you’d expect on newer stock.
“We wish all our contacts and users an enjoyable Christmas period and a prosperous 2015.”
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.