My Car Check Trade used car market overview May 2015: Nearly new low mileage vehicles represent a welcome profit opportunity
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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, commented: "As we move into the summer months, buyers' thoughts turn to paying for their family holiday rather than swapping their car. With this focus on disposable income, and the uncertainty surrounding the general election, we might expect a dip in demand for used cars. It is encouraging then that overall the trade seems pretty steady.
"There continues to be a shortage of good, clean, used cars, but there are signs that more late, low mileage vehicles are beginning to hit the market. These represent a welcome profit opportunity and they're commanding very strong money, especially through the auction houses. It is refreshing to see but views differ as to how long this trend might last.
"There is also debate about ‘auto v manual' gearbox fitment on top end sports cars. Our feedback is that more people are selecting a double clutch option, despite a manual gearbox delivering a purer driving experience. It will be interesting to see if this shift towards auto continues. Might new buyers be more swayed by the fashion accessory factor than the reality of driving these cars? Might secondhand buyers be prepared to pay a premium for a manual?
"In terms of individual models, it is interesting to note that the Discovery Sport is performing particularly well. It is without doubt drawing buyers from other brands. Meanwhile, the Freelander, the model which the Disco Sport replaced, hasn't taken a massive hit and is still performing well in the used market.
"Our final point for this month concerns the chemicals used at many hand car wash sites. An industry expert has told us that some of the cleaners used to make alloys gleam can actually cause them to degrade over time. It seems a good old fashioned home wash might actually be better for your car in the long term."
My Car Check Trade provides buyers and sellers with all the vehicle price data they need: ready to retail, trade, average, retail and Cat D. As a free bonus, it also provides the annual road tax cost and key DVLA information, including the make, model, colour, engine size, body style, fuel type and date of registration.
Simply enter a car, van or motorcycle registration and the vehicle's mileage to get an accurate valuation and additional information in an instant. Once signed up you can check as many vehicles as you like at no extra cost.
The My Car Check Trade team includes:
Gavin Amoshas 15 years' experience in the used vehicle sector. After starting out at CAP he worked in several dealerships, progressing into management. He has hands-on experience of sourcing and disposing of stock, both to trade and retail customers.
David Hillspecialises in LCVs. He worked with Renault, LDV and Isuzu Trucks before spending 10 years as CAP's Light Commercial Vehicle Editor then 5 years as national used vehicle sales manager for Iveco. He joined CDL in 2011.
Rob Hobsonspecialises in motorbikes and scooters. After leaving a dealer role to launch CAP's Green Book, he worked in business development for Piaggio.
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Notes To Editors
There is a "MyCarCheck..." JPG to go with this.
MyCarCheck.com/Trade, MyCarCheck.com, MyMotorCycleCheck.com, MyTextCheck and the My Car Check apps are brands of CDL Vehicle Information Services, owned by CDL Group Holdings Ltd of Stockport, Cheshire.
CDL Vehicle Information Services is a member of the British Vehicle Rental and Leasing Association (BVRLA), the Consumer Credit Trade Association (CCTA), the Finance and Leasing Association (FLA), the Motor Asset Registration Service (MARS), the National Association of Motor Auctions (NAMA) and the Vehicle Remarketing Association (VRA).
For sales, contact the MyCarCheck.com/Trade team on 0844 482 1963.
For media enquiries, contact Neil Kennett on 07986 921 742.