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Top News In டெர்ரென் மார்டின் Today - Breaking & Trending Today

Used car prices soar as industry faces perfect storm

Chip shortage and pandemic push up secondhand car prices by thousands of pounds a month ....

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Used car retailers 'can't stock fast enough' as consumer demand surges


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Used car prices are soaring as car retailers report demand so strong that they “can’t stock the forecourt fast enough” – and supply shortages look to continue the trend.
As Cap HPI head of valuations Derren Martin reported that he had seen prices go “through the roof” with June’s anticipated market-wide used car values rise potentially reaching 6%, retailers told AM that the rate of consumer demand is growing.
One small independent retailer said: “I barely have anything on the website right now. Cars are selling before we’ve had chance to prep them. We can’t stock the forecourt fast enough.” ....

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Demand could outstrip used car supply, says Cap HPI


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The used car market is booming, with Cap HPI reporting the largest increase in values seen in 12 years.
It recorded an overall increase of 2% at the 3-year point during April, equivalent to about £275 per vehicle, at a time of year when traditionally values tend to fall.
Car showrooms reopened on April 5 in Scotland and April 12 in England, and according to the head of valuations at Cap HPI, Derren Martin, consumer demand “went through the roof”.
“There were reports of consumers queuing at the door before some opened and once they were open,” he said.
“Car supermarkets, in particular, experienced hugely increased business levels as the opportunities for consumers to turn up without an appointment and browse around a forecourt were seized upon.” ....

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'Make hay' as values rise, used car sellers told


Date:
20 April 2021
  |  
Author: Sean Keywood
Factors including reduced company car take-up mean a temporary lift in used car demand in expected.
Organisations selling used cars should make hay while the sun shines , as the market is expected to enjoy a short boost with the relaxation of Covid-19 lockdown measures.
That s according to Cap HPI head of valuations Derren Martin, one of the speakers on a webinar held by the organisation about the effect of the pandemic on vehicle values. 
He said that with the recent reopening of dealerships, values were on the increase, and that this was expected to continue for a few weeks ahead - with company car market trends one factor in increased demand.  ....

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Used car values reach 'tipping point' ahead of post-lockdown showroom opening


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Used car values have reached a “tipping point” with prices rising for the first time in five months as an easing of COVID-19 ‘Lockdown 3’ retail restrictions draw nearer, says Cap HPI.
The automotive valuations experts claim that March brought a 0.1% value increase at the crucial three-year point following a series of drops at an average of 2%.
And, despite ongoing value declines for “expensive looking” electric vehicles (EV) and hybrids, Cap HPI said that the April and May is set to deliver wholesale price increases as dealers seek to satisfy this consumer demand.
Head of valuations, Derren Martin, said: “Initially as we entered March, values continued to drop in the same way they had over previous months. ....

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