Used car market 'challenging'

Difficult times ahead, say industry chiefs

Published:  06 September, 2011

The car auction industry expects market conditions to remain 'challenging' in the coming weeks.  Data from members of the National Association of Motor Auctions (NAMA) confirm that every year volumes start to increase from around the second or third week in September and peak in the first half of October just as consumer demand traditionally weakens. However the group has suggested that this year the situation is likely to be made worse as demand may be affected by the pressure on consumer disposable income.

NAMA Chairman Andrew Hulme commented "Market conditions have been relatively stable over the past two months, despite the fragile confidence exhibited by consumers and wholesale buyers.  That is likely to change significantly as volumes rise and buyers have a much greater choice.  While well-presented grade 1 and 2 vehicles continue to attract strong bidding, stock in grade 3 to 5 condition needs to be accurately valued in line with market conditions."

Related Articles

  • New edition of Top Technician 

    Read Top Technician online here

  • ASA slam 'End of life Vehicles' advert 

    THE Advertising Standards Authority has ruled against a scrapyard that called itself 'End of Life breakers' ruling that using the name in the first line of an advert, the company could easily be confused with an official government body.

  • Dealer doldrums 

    FRANCHISED dealerships will have to rethink their approach to aftersales in 2012, according to an industry expert.

  • Renault to slash franchise network 

    MORE than a third of Renault dealerships are to shut their doors in the New Year as the car maker battens down the hatches for what it describes as a 'transition' year.

  • Aircon & more 

    The technical team at Valeo look at some common winter queries


Search

Sign Up

For the latest news and updates from Aftermarket Magazine.


Poll

Where should the next Automechanika show be held?



Facebook


©DFA Media 1999-2016

Mentés