Used car prices will soften but the picture is strong for now, says Motorway boss - Car Dealer Podcast

12:26 pm, May 3, 2022

Despite used car prices remaining strong, they can’t remain that way forever and will soften.

Motorway sales director James Bush spoke on the latest episode of the Car Dealer Podcast about the trends the trade auction platform is seeing from the market and their buyers.

He said: ‘I think that all of the time there are these constraints… we’re really confident in the used car space.

‘I think prices will soften though, and they sort of have to soften. You can’t really grow 30 per cent year-on-year and expect that to maintain or grow any further.

‘If you look at it year-on-year rather than month-on-month, the picture still looks really positive and I think that’s what the buyers are really enjoying at the moment.

‘All the time that there are these new car restrictions though, I just can’t see it being fixed soon and certainly not this year.’

Each week on the Car Dealer Podcast we talk about the latest news with an industry guest, and you can now listen to the new episode with Bush on Spotify, Apple Podcasts and more or by clicking play below.

Speaking with James Baggott and Rebecca Chaplin, the Motorway director added that the picture varied across the country and different businesses when it came to stock last month.

‘It’s a real mix at the moment, some of our buyers are holding back because they’re a bit worried about buying stock that they might be stuck with for too long,’ Bush explained.

‘We’ve got some buyers who are holding back and being cautious but on the flipside we’ve got other buyers who are busier than ever. They’re busier with us than ever, they’re busier retailing than ever.

‘I’d say on a car supermarket front we’ve got some great buyers in that area that seem to be doing really well.

‘Even just over Easter for example, we had some buyers say they had hardly any enquiries and others that were falling over themselves on the Tuesday to stock up again.’

You can listen to what Bush had to say in full by listening to the podcast and you can find out more about the stories mentioned by clicking the links below.