• Car Dealer Plus
No Result
View All Result
  • Latest
  • Used Cars
  • Live
  • Forum
  • Power 2020
  • UCA 2020
  • UCA 2021
  • CDX
  • Knowledge
  • Suppliers Guide
  • About Us
  • Latest Issue
  • Top 100
  • CD Plus
  • Latest
  • Used Cars
  • Live
  • Forum
  • Power 2020
  • UCA 2020
  • UCA 2021
  • CDX
  • Knowledge
  • Suppliers Guide
  • About Us
  • Latest Issue
  • Top 100
  • CD Plus
No Result
View All Result

A 6.41m used car market looks on track following Q4 easing, says Cox Automotive

James Batchelor by James Batchelor
November 24, 2020
0
Home News

The used car market is on course to reach 6.41m transactions, new data forecasts.

In a ‘mid-month review, Cox Automotive predicts 6.41m used car transactions will take place in 2020. If true, it’ll mean the year could end 19.2 per cent down on 2019.

Philip Nothard, insight and strategy director for Cox Automotive, said: ‘The market was in a strong place at the end of Q3 after a 4.4 per cent year-on-year increase in used car transactions.

‘Subsequent easing of supply and demand in the early stages of Q4 means a 6.41m used car market in 2020 — as forecast in the latest Cox Automotive Insight Report — looks on track.

  • Are used car prices falling during second lockdown? What will happen to used car prices next? 

‘In the report we forecast 1.3m used car transactions in Q4 (-25 per cent).Current supply and demand levels make this look like a realistic outcome, meaning the year could end -19.2 per cent down compared to 2019.’

Meanwhile on a more general level, the firm states that used vehicle supply in the market is down, but much of this seasonal.

Nothard said: ‘The constraint on vehicle supply has been much discussed over recent months — something that’s unlikely to change anytime soon — and the latest data shows that supply has once again dipped at the start of November.

‘Undoubtedly the introduction of a second round of national restrictions has played a part in the drop, but it’s important to remember that a supply dip around this time of year is perfectly normal.

‘In the wholesale market, vendors typically ease their auction activity ahead of the new year, but the easing has been compounded this year by reduced demand. Vendors are unsurprisingly cautious about entering vehicles into a weak marketplace.’

  • Register as a Car Dealer member and get more out of the website here
  • Car Dealer Mag issue 153 is out now – Read it here
  • Join our breaking news WhatsApp group – Click here to join now

Related Posts

Porsche Bournemouth street scene
News

Inchcape reveals look of Destination Porsche Centre Bournemouth as success of current showroom prompts move

March 5, 2021
Aylesbury Crown Court, Sep 2019, via PA
News

Rogue car dealer avoids jail after racking up nearly £190,000 in fraudulent sales

March 5, 2021
Vertu Motors boss Robert Forrester
News

Clever technology helped Vertu Motors sell 6,500 used cars in February despite dealership doors being shut

March 5, 2021
Do It 4 Ben – Breakout For Ben
News

Breakout for Ben virtual challenge raises £159,000 towards £1m funding gap

March 5, 2021
VW ID.3
News

There’s something in the air – Volkswagen’s electric ID cars to get updates online

March 5, 2021
Reading Crown Court, via PA, Nov 2020
News

Prestige dealership owner and wife must fork out nearly £60,000 for wrecking listed mansion

March 5, 2021

Want the latest news?

Sign up to Car Dealer's daily news email updates

Subscribe
How many car dealerships does each manufacturer have in the UK? Car Dealerships Locations List 2021 revealed
News

How many car dealerships does each manufacturer have in the UK? Car Dealerships Locations List 2021 revealed

February 24, 2021
Used Car Awards with Mike Brewer and James Baggott graphi
News

Who won what at the Used Car Awards 2020? Mike Brewer reveals our winning car dealers

February 11, 2021
Car Dealer issue 156 front cover and Used Car Awards
Online Magazine

Out now: Car Dealer issue 156 features our Used Car Awards, H.R. Owen CEO Ken Choo and lots more

February 23, 2021
Used car market stronger than ever as August sees sales up by nearly 50 per cent for Big Motoring World
News

Opinion: Here are 10 reasons why I think there’ll be a rapid recovery in car sales when lockdown ends

February 16, 2021
Trophy Cars forecourt
News

Investigation: Meet the hyper-specialist car dealers making their money from weird and wonderful motors

February 11, 2021
Become a Car Dealer Plus member and get more out of this website including free legal advice
News

Become a Car Dealer Plus member and get more out of this website including free legal advice

January 15, 2021
Car Dealer Top 100 – The list in full of the most profitable car dealers in the UK
Car Dealer Top 100

Car Dealer Top 100 – The list in full of the most profitable car dealers in the UK

February 10, 2021
Bitcoin ATM terminal
News

Will car dealers in the UK accept Bitcoin for payment? Dealers speak out after Tesla plans to accept cryptocurrency 

February 18, 2021
  • Latest
  • Used Cars
  • Live
  • Forum
  • Power 2020
  • UCA 2020
  • UCA 2021
  • CDX
  • Knowledge
  • Suppliers Guide
  • About Us
  • Latest Issue
  • Top 100
  • CD Plus
Call us: 020 8125 3880

© 2020 Blackball Media

No Result
View All Result
  • Car Dealer Plus
  • Latest
  • Used Cars
  • Live
  • Forum
  • Power 2020
  • Used Car Awards 2020
  • Used Car Awards 2021
  • CDX
  • Knowledge
  • Suppliers Guide
  • About Us
  • Latest Issue
  • Top 100

© 2020 Blackball Media

Log In
Register
Register
Server 1