Used car demand cools

Time 9:28 am, November 9, 2010

used-car-line-forecourt-307-rear-copyTHE usual seasonal demand for used vehicles has ‘dampened’ says G3 Remarketing.

The online vehicle disposal company has reported that it is experiencing a slow down, and that buyers are becoming more selective.

‘Online activity continues to be strong and since the beginning of 2010 which included a 23 per cent increase in October alone,’ says director, Matt Dale.

‘However, it is very apparent that the market has softened in recent weeks and with the industry guides adjusting values by around 3 per cent in November we expect the market to remain lukewarm until mid-January,’ he said.

‘The demand continues for clean, well specified vehicles whilst damaged examples remain difficult to place.

‘There is a level which they will sell but the market is awash with standard spec cars that have suffered considerable hardship during their contract life. It is our opinion that demand for such vehicles will remain limited until early 2011,’ said Dale.

The company says that this November will be no different from other years. Volume buyers boosting stock levels before the festive shut-down will continue in 2010, but the opportunity is limited.

‘Vendors need to work with their remarketing partners to maximise returns in the final months of the year. Disposal partner have to maintain focus to ensure customers get the best returns.

‘Although the market may be entering its ‘hibernation’ stage, there are still buyers with an appetite it’s just that bit harder to seek them out as concentration switches from the sales floor to the Christmas party dance floor,’ said Dale.


James Batchelor's avatar

James – or Batch as he’s known – started at Car Dealer in 2010, first as the work experience boy, eventually becoming editor in 2013. He worked for Auto Express as editor-at-large and was the face of Carbuyer’s YouTube reviews. In 2020, he went freelance and now writes for a number of national titles and contributes regularly to Car Dealer. In October 2021 he became Car Dealer's associate editor.

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