Motor Industry News
Mycarcheck.com market guide: October 2017
Used sales holding up as new car and bike markets stutter
- Used car of the month: Peugeot 108 (2014-)
- Used bike of the month: Harley Davidson Night Rod (2006-)
Mycarcheck.com’s valuation experts reveal significant trends in the UK used vehicle market and choose a car and bike of the month.
Vehicle valuation manager at mycarcheck.com, Jon Wheeler, said: “The Peugeot 108 city car is efficient, stylish, fun to drive and affordable to insure and maintain. The compact design enables you to get into tight parking spaces with ease, making it an ideal urban run-around. The 2014 onwards models had plenty of personalisation options as new, so take your time and seek out a used one which really suits you. Our choice would be the 1.2 Puretech in Allure trim. Check before you buy though because, of all the 108 models we’ve checked so far in 2017, a higher than average percentage were still on finance, a trend which applied to the Allure models we checked too.”
As to market trends, Wheeler said: “The new car market fell yet again in September, down almost 10% on the same month last year. This sixth consecutive month of decline was particularly disappointing as it was a new plate month. Dealers are citing two main factors: uncertainty surrounding Brexit and concern about what the government’s air quality plans might mean for diesel. As the new car market stutters, one of the few positives is the increased demand for alternative fuel vehicles. Manufacturers continue to offer competitive diesel scrappage schemes and, with Christmas around the corner, dealerships should be keen to do deals on both new and used cars.”
On the motorbike, scooter and moped sector, mycarcheck.com’s Mark Field said: “The 2006 Harley Davidson Night Rod was the first of a new generation of Harleys and, initially at least, it divided opinion. A decade later, it is widely considered a great used option. Importantly, its liquid-cooled dual overhead camshaft (DOHC) engine, designed in collaboration with Porsche, has gained a reputation for reliability. You can expect to pay up to £14,000 for a pristine used example, but healthy residual values mean you shouldn’t lose much to depreciation. Another major plus is that Harleys are lower risk than most other bikes in terms of write-off, finance and stolen warnings.”
As to market trends, Field said: “September saw yet another decline in new bike registrations, down a massive 23.6% on the same month last year. Overall, new bike sales are around 15% down on 2016 and many dealers are likely to miss their manufacturers’ annual targets. Uncertainty regarding Brexit and the weakness of sterling aren’t helping, but the industry simply must do more to sell the benefits of biking. Meanwhile, the used market continues to perform well, although the lack of part exchanges against new bikes is exacerbating the shortage of good quality used stock.”
With information from the police, DVLA, insurers and finance houses, My Car Check holds comprehensive data on every vehicle on UK roads – things that buyers should be aware of before making an offer.
CDL Vehicle Information Services, which owns My Car Check, performs over a million look-ups a day for companies including AutoExpress, CompareTheMarket, Go-Compare, Moneysupermarket, Swiftcover and Tesco.