6:24 pm, October 12, 2022
Used car values have been one of the most talked about subjects in the motor trade for the last few years – and rightly so.
Reporting their performance and analysing the data accurately has been crucial to dealers’ performance and our winning firm has excelled at that.
Winning the Car Dealer Power award for used car valuations for the second year in a row is Cap HPI.
Derren Martin, director of valuations for the firm, has been at the forefront of the business talking to Car Dealer monthly to keep readers and customers updated on the latest used car movements.
Receiving news of the win in the video you can watch above, Martin said: ‘I’m absolutely delighted to win it.
‘I think the main thing for us is that it’s voted for by the dealers. We’ve worked really hard since the Covid period to keep dealers abreast of what’s happening, so this is a real accolade for us.’
Martin said the used car pricing picture has never been so difficult to predict with a surge in demand causing prices to rise last year, and then drop off into 2022.
He said: ‘I think it’s never been tougher to predict, really.
‘Off the back of what happened last year, when values went up by so much, we have still got a lot of values that are really high.
‘We’ve had to work really hard to maintain our place in the market and to make sure that our values are accurate, because we know that dealers rely on us.’
Taking the opportunity to predict what will happen next for used car values, Martin said he thinks they will ‘remain high’.
He added: ‘There will be some adjustments down as we get more supply into the market as new car volumes increase and the cost of living concerns will be there, but used cars are robust.
‘And values will, I think, stay above where they were previously. But there will be some adjustments towards the back end of this year.’
You can watch the interview in full in the video at the top of this post.
- W: cap-hpi.com
- T: 0113 222 2000
- E: [email protected]
