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Date: 24 February 2021   |  Author: Jack Carfrae A shrinking private hire market has caused once strong used hybrid prices to tumble and legislative changes have compounded the issue. Used hybrid values have nose dived as their traditional market of private hire drivers has suffered during the pandemic. Second-hand examples of conventional, non-plug-in hybrids, such as the Toyota Prius, have traditionally been popular with the sector and commanded strong prices due to their low running costs and suitability for urban areas, but Covid-19 has hit operators hard and caused a big drop in demand for vehicle replacements. Valuation specialist Cap HPI said hybrid values fell by 10.1% in January 2021, while plug-in hybrid prices dropped by 6.7%. A lot of this is driven by the private hire market, which was decimated last year, said Cap HPI s head of valuations, Derren Martin, certain models like the Prius and A ....
Date: 17 February 2021   |  Author: Jack Carfrae Jack Carfrae asks how the used car market is treating the two major fuel types and how they stack up against hybrid and plug-in cars second-hand. You could be forgiven for thinking that diesel has had its day. It made up 16% of new car sales in 2020 - a far cry from 2015, when it was level pegging with petrol with just under half the market, and the early 2010s, when it had even more than that.  According to Cap HPI, diesels accounted for 47% of used car transactions in 2020, so they are clearly far more popular second-hand than they are new. A big part of that is just the mix of available vehicles - whatever sold well in the past will always linger - but it is also because used car buyers, at least for now, are content with diesels. ....
The remarketing industry is increasingly refurbishing ex-fleet cars to match quantifiable NAMA-approved levels of condition. There is a spectrum to refurbishing used cars. At one end are those who hand over the keys to something utterly pristine that, as we have often discussed in these pages, will more than likely fly through auction with no shortage of bids. At the other are owners or lessors who just want shot of the thing - never mind the state of it. That was fine during summer, when demand for used cars was such that even old, ropey ones were going for serious money - not so much when the market is anything but strong. ....