News

Values slow-down

Time 9 years ago

DEALER-Auction has seen a softening in franchised dealers’ part exchange values in March compared to February.

The firm says the volume of dealer part exchanges being auctioned throughout March have increased, largely due to more trade cars being generated from new car registrations and the March plate change.

Average used car values fell by 3.1 per cent to £3,058 in March compared to £3,155 in February, while performance against Cap Clean was 97 per cent with an average 5.1 per cent (£155) profit per vehicle sale.

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However, average values for premium brand part exchanges have increased by 4 per cent to £5,652 in March, from £5,433 in February, up by £219. Average profit per vehicle was 3.2 per (£180).

Gavin Smith, co-founder and director of Dealer-Auction explains: ‘Historically, the plate change has affected used car values for the following few weeks. However, desirable vehicles which are displayed well are still demanding a premium and generating the selling dealers some healthy trade profits.

‘We have also seen an increase in the volume of premium brand models being auctioned which has pushed average values up from last month. This is largely due to more premium brand dealers recognising the benefits and cost savings made by auctioning higher valued vehicles online.’

Dealer-Auction offers trade cars from franchise dealers to thousands of pre-vetted, registered trade-only buyers. The firm’s listing system does not rely on the right buyer being in the right place at the right time.

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Instead, Dealer-Auction works behind the scenes to secure the highest possible price amongst a database of potential trade buyers.

For every vehicle being auctioned, the selling dealer has created a detailed description including a full vehicle condition report and seven photographs, to accurately and honestly present the vehicle.

Dealers are given access to ‘My Dashboard’ through which they have full control of their auctions from a simple interface.

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.

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