8:04 am, January 31, 2024
Experts are set to take a deep dive into the trends behind the used car market headlines to help car dealers make more informed decisions in 2024 at our exclusive event.
Cox Automotive analysts – the team behind brands including Manheim and Dealer Auction – will present fresh data on the state of the used car market at Car Dealer Live 2024.
Phil Nothard, insight director for the firm, will look closely at attitudes towards different buying options available to consumers, how they feel about fuel types and how the rise of AI can help the motor trade.
The presentation will take place at our ticket-only event on March 7 at the British Motor Museum at Gaydon as part of a day packed with research sessions and panel discussions.
Headline interviews with franchised car dealer boss Peter Vardy as well as used car supermarket king Peter Waddell will also take place.
Tickets are available now with a special rate for trading car dealers.
In a video interview about the session (above), Nothard said: ‘We’re going to take a deeper dive into the used car market and take a closer look at what’s happening in the used car market.
‘Right now, the devil is definitely in the details more than ever. We talk a lot about the change in the new automotive landscape, what the impact of loss production is going to have on the used car market and we’re also dealing with a transition to electrification.
‘There’s also this shift in buying and selling channels whether that’s via a virtual, digital space, or the physical options.
‘And then there’s the use of AI – what does this start to mean for retailers as we enter this new landscape?’
Nothard said Cox Automotive is in a ‘privileged position’ to follow cars from the ‘factory gate to the scrapyard’ and will use this knowledge to help attendees understand what’s happening in the used car market and what might change in 2024.
‘What does the future look like? What should retailers be thinking about? What are the dynamics that are starting to play out? What are the trends that we’re starting to see?,’ asks Nothard.
‘Retailers have got to try and understand what’s happening out there, what they need to be considering, what they need to look at, and where they need to spend their time and their money as we go forward in this new marketplace.’
Cox Automotive is one of five firms presenting exclusive research at Car Dealer Live.
Headline sponsors Auto Trader, as well as Google, iVendi and Automotive Transformation Group will also present their findings to attendees.
All of the sessions are designed to give dealers hints and tips that they can take away and then go back and implement in their businesses.
Nothard added: ‘Our session will be about what the retailers really should be thinking about next. What should their use car stock profile start to look like in this new marketplace?
‘Hopefully, they’ll go away from the day thinking about practical changes they need to consider doing.’
Tickets for the event are selling fast – with just six weeks to go, more than 75% of the allocation has been taken. There are special rates for trading car dealers with ticket booking and more details available on the event website, CarDealerLive.co.uk.
