Used vehicle market trends revealed
Information from the police, the DVLA, insurers and finance houses has been collated to reveal the latest trends in the used vehicle market.
Head of valuation services at My Car Check, Gavin Amos, said, ‘Activity has picked up following the lull over the festive season, but typically used car sales slow again in February as dealers focus on the new plate coming in March. This, though, will generate a fresh influx of part-exchanges to boost the used market throughout spring and into summer.’
He continued, ‘If you stick to popular colour combinations you won’t go far wrong come resale time, or you could target the weirder combinations and push for a price reduction. There’s plenty of choice in the used market, and of all the DS3s we checked in 2016, 22% had been previously written-off and 20% were still on finance.’
On the motorbike, scooter and moped sector, My Car Check’s Rob Hobson said, ‘The dust still needs to settle before we can properly assess the consequences of the new Euro4 regulations. Traders and consumers alike have been trying to get their heads around which bikes are and aren’t compliant. The new market finished on a high, partly due no doubt to a rush of pre-registrations on non-compliant models. Several contacts in the trade have reported struggling to buy used stock over the last few weeks, traditionally a period when they would have bought heavily. As a result, clean, low mileage stock remains very much in demand.’
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.
