Motor Industry News
MyCarCheck.com/Trade Used Car Market Overview February 2015:
Shortage of above average condition, low mileage stock persists
- 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: “With ever more challenging manufacturer targets to achieve, dealer groups are working hard to build up orders for 15 plate vehicles. From the start of March, the new registration will provide a welcome opportunity to secure some good quality used stock in part exchange.
“Despite sub-zero temperatures and sporadic bouts of snowfall, the weather doesn’t seem to have hit forecourt footfall. 4x4 sales have been strong, as expected, but this increase in retail demand has had little effect upon trade values. Most in the trade had already stocked up.
“With enquiry levels reported to be good across the retail sector, the ongoing shortage of above average condition, low mileage stock, both at auction and in the trade, will see used values remain firm for the immediate future.
“Overall, values have remained flat this month. Pre-2006 examples of Mondeo-size cars appear to be in steady decline, with petrol examples in particular proving less popular. The crossover sector remains strong with the Qashqai still leading the pack, although the Mitsubishi ASX and Toyota Rav 4 look to be good value alternatives.
“Predictions for the months ahead are mixed, although most agree that May’s general election can only have a negative effect on car buying decisions. The uncertainty surrounding the outcome will have a bearing on all big ticket purchases until the result is known and the dust has settled. It could even set the tone for how the car market performs for the rest of the year.
“One interesting development to note is that savvy dealers are employing innovative tactics to replenish their sparse used car pitches. Some prestige dealers are even sending text messages to their customers saying “Cars Wanted Up To 60k Miles”, and are apparently enjoying an impressive level of success. This example of simple good practice is helping them to directly purchase used vehicles, sell new vehicles and stay in touch with their customers.”
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.