Time to stock up in a ‘hot’ used car market
More customers are feeling confident and more are actively looking to change car. This is the clear picture from a range of research sources that we have used to compile this report. The good news is that more stock is coming to market as the sustained growth in new car sales starts to feed through to the market. Whilst this supply is creating some downward pressure on used values, we must recognise that the number of cars sold through auction increased year on year by 12.2%. As what might be considered to be the traditional remarketing cycle finally returns, I think it is important to reflect that this new marketplace is nothing like the pre credit crunch market. Regulation, technology and a more informed consumer, who turns up often knowing more about their selected car then the sales executive, mean things have changed forever. For us, this change signals opportunity and we hope that this high level report, which is full of current data, helps our growing number of dealer customers to realise this opportunity.
Sections of the whitepaper include:
1. Consumers are in market
2. So are dealers actively looking to meet this rise in demand?
3. Increasing supply does mean buyers are becoming more discerning
4. What’s hot what’s not?
5. Franchised dealer activity
6. Independent dealer activity
7. Additional factors on the horizon
7.1 The impact of technology
7.2 Consumer Rights Act