UK Used Car Sales Up, but There's Trouble on the Way...

Despite an improvement in used car sales in the UK, there's supply issues that could cause problems down the line...

#Motoring #UKCars #CarSales

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[wildthing]

Dealers are paying more for used ICE vehicles at auction so the prices they charge has to increase. 85% of new sales are for company vehicles and they are for EV's that no one will want when the three year lease period is up. Some private buyers will buy a New EV because the mileage they cover per year is low and they can get a home charging point installed for free, this means they could be paying less than 10p per kWh to charge the EV on a night. Dealers are preregistering EV's so the company won't be hit with fines for not selling a certain percentage of EV's in a year, they then offer them at a discount 6 to 12 months later with delivery mileage on them.
Some dealers might tell a customer that the ICE vehicle they ordered isn't being made and they can have an Hybrid or EV for a similar price or just a few thousand pounds more than the ICE vehicle they ordered, they should say no and demand any deposit they paid back and they will look elsewhere for a new ICE vehicle.

[michaeledwards]

dealers and some private sellers want too much for their cars, mostly caused by valuations placed on them but mostly the auction sites

[mcarlino]

Do NOT believe this is what will happen. I have been monitoring Porsche 991 prices and the very idea that people are set to snap up deals is beyond belief. Seen some come cars over 5 years old with some incredible cars on Autotrader inc NEW 992 GT3 Touring on Auto Trader £50, 000 to £70k less than a year ago and up for sale for 9 months. I only been monitoring Sports cars but see luxury cars on the websites that remain unsold. Of course unrealistic prices will see cars not selling. A dealer I was going to view a 997 Porsche listed 4th April, in June I was going to look at it dealer started arguing about £2000 I thought OK am not going, so its still for sale TODAY thats 4 months of dead money. I have seen depreciation on electric new cars reported at 42% In 1st year WHY WOULD YOU ? There are dealers that have downsized, some gone bankrupt and now cars are not getting bid on at auction. I would suggest whilst August will be good for car dealers, for the last quarter they will need to dump stock

[richardmack]

Please get rid of the music, terrible and annoying. Had to turn off after 2 mins.