Topic: industry news

Changing fuel policies create an uncertain market

Posted by Meg Bernazzani on June 11, 2019

The Government has been vague about its future plans for diesel, petrol and electric car taxation and changed direction a number of times. For example, the plug-in car grant is evidence enough that authorities want us to drive cleaner vehicles, but it was downgraded by the Office for Low Emission Vehicles in November 2018, so the allowance is now lower and applies to a smaller number of cars.

Equally, the Government has yet to make any announcements about its plans for company car tax beyond April 2021, leaving companies and business drivers in the dark, while continued bad publicity around diesel has caused speculation as to whether or not it will be subject to further tax. Put simply, we just don’t know, and the ambiguity is also affecting the used car market.

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Topics: CarGurus data, industry news, trends

Dealers get the edge by going digital 

Posted by CarGurus Admin on May 16, 2019

The used car market is one of a long list of sectors that have been upended by the internet, and the dealers with the best-run and most profitable operations are those that embrace it. According to CarGurus’ One Voice report, 73.2% of used vehicle retailers have adopted digital strategies to boost their businesses.

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Topics: industry news, trends

Margins under pressure from stock shortages and prep costs

Posted by CarGurus Admin on April 30, 2019

The savage supply and demand issues at play in the used car market have increased pressure on margins, and we’ve talked before about just how hot the competition is for good quality second-hand vehicles.

It’s no surprise, then, the research we conducted as part of our One Voice report revealed 43.8% of used car retailers were seeing their margins decrease – significantly more than the 25% reporting an uptick – and there is a number of reasons for the squeeze.

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Topics: CarGurus research, industry news, trends

Finding and acquiring used stock in the right condition poses a challenge for UK dealers

Posted by CarGurus Admin on April 11, 2019

It’s absolutely no secret that retailers have turned their attention to the used car market over and above the new car market. After five years of growth and a record-breaking 2016, new car registrations turned on their heels and fell by 5.7% and 6.8% in the successive two years, which steered retailers toward what continues to be an exceptionally strong second-hand vehicle market.

The trouble is that used cars have been hot property for a long time; prices are extremely strong, the trade can’t get enough of them, and even in the wake of previously strong new car sales, competition is so fierce for quality second-hand stock that it’s proving ever trickier to procure. That’s great news for auction companies, less so for trade buyers and, in short, it’s the perfect storm of supply and demand.

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Topics: CarGurus data, industry news, trends

How 4 government trends are influencing car buying in the UK

Posted by Meg Bernazzani on March 18, 2019

It’s easy to forget just how much influence the Government wields over car buyers’ decisions, but it’s absolutely enormous. It may be subconscious to a customer, but the country’s authorities impact their choices at every level, be it financial, technological or geographical, and the more in-tune retailers are with customers’ needs and concerns, the better their chances of a sale. Here, we investigate how four government trends are impacting car buying in the UK.

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Topics: industry news, trends

CarGurus One Voice Report examines key issues dealers face in 2019

Posted by Meg Bernazzani on January 31, 2019

CarGurus’ inaugural One Voice Report, released today, brings together the opinions of more than 400 influential UK dealers on hot topics affecting the used car market. It touches on rising overheads, increased competition, government issues, and more, and provides valuable insights into how digital is helping dealers adapt to today’s changing market. Key findings include:

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Topics: CarGurus data, CarGurus news, industry news, trends

A leap in female car ownership offers new opportunities for dealers

Posted by Meg Bernazzani on May 31, 2018

Appealing to female car buyers can mean winning a larger share of a growing market

More women own more of the UK’s cars than ever before, according to figures from the Society of Motor Manufacturers and Traders (SMMT). The research reveals that over a third of cars on UK roads are registered to female drivers.

The findings are part of the UK’s biggest analysis of automotive trends, and confirm what most dealers will instinctively know: female car ownership is at record levels, and is only likely to rise.

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Topics: female car buyers, industry news