Motor Industry News
Reduced footfall and seasonal value drop of 2% on all but popular 4x4s
“As soon as Christmas is over footfall will pick up as people hit the forecourts to escape the house” - Gavin Amos
My Car Check 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 My Car Check Trade, Gavin Amos, said: “December is a month of doom for many on the retail side of the used car market. Reports of drastically reduced footfall are expected and we’ve applied a seasonal value drop of 2% to all but the most popular 4x4s.
“The more positive retailers are looking forward to January while maximising every enquiry, particularly telephone enquiries where customers have clearly done their homework. These warm leads are far easier to convert, they’re gold dust.
“Dealers also know that as soon as Christmas is over, footfall will pick up as people hit the forecourts to escape the house. There is real skill in getting the right stock mix to maximise these opportunities until business starts to settle back down in mid-January.
“4x4 values are strong and there is the usual speculation about the possibility of prolonged bad weather and a resulting sales boom for ‘snow beaters’.
“A new player set to shake things up in the SUV sector is the Mercedes-Benz GLC. It finally addresses the gaping hole in the Merc line up and will compete with the likes of X3, Q5 and Discovery Sport. The GLC is a great vehicle too and, if marketed properly, is sure to give the longstanding class leaders a run for their money, particularly with the attractive finance packages being offered. In terms of the used market, there’s more than enough appetite for SUVs to accommodate another top player.”