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Used Car Prices Experience Notable Shift in October

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In recent motor trade news, October witnessed a significant 4.2% drop in used car prices. This is the most substantial decline since 2011, making it the most considerable fall ever recorded for the month by valuation specialists Cap HPI. Interestingly, such monthly declines exceeding 3% have only been reported three times previously. Derren Martin, the esteemed director of valuations at Cap HPI, conveyed this insight in an exclusive interview with Car Dealer. The downturn means an average setback of around £850 per used car. Contrasting this with the previous year's figures, October 2022 saw just a marginal dip of 0.5% in used car prices. While many in the trade may be alarmed at the sudden drop, Martin prefers to view it as a 'significant realignment' rather than a dire 'crash'. He shed further light on the matter, commenting on a notable observation: there's an abundance of cars available now, but a waning demand. "There’s more cars out there and the...
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Car Dealer Podcast Edition 129

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In a recent edition of the Car Dealer Podcast, hosts Jon Reay and James Baggott, accompanied by Pete Withers from AutoEngage, delve into a rich assortment of topics vital to the motor trade. From Carwow's financial results to Sytner's remarkable profits, and even an intriguing segment on brain scanning, the episode is brimming with insightful discussions. A pivotal point of conversation was the electric car regulation, rekindled not just by James’ ongoing issues with EV chargers, but also due to the Labour party's commitment to reinstating the 2030 deadline for electric vehicle adoption. Withers shed light on the ramifications of the Zero Emission Vehicle (ZEV) mandate, highlighting the potential fines for manufacturers missing their targets, and how these costs might trickle down to the dealers. He expressed concern that pushing the deadline back to 2035 could lead to complacency among consumers, potentially making it more challenging for dealers to 'sell more cars...
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UK Government Stands Firm Against Reinstating EV Grants

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