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The Vehicle Remarketing Association is the all-new trade body representing the UK remarketing industry. |
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Remarketing Blog - Have your say... |
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JOB VACANCY: RESEARCH EDITOR – COMMERCIAL VEHICLES To join the commercial vehicle valuations team at CAP, the UK’s leading information provider to the motor industry. |
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Remarketing News
There is a serious shortage of used cars because new registrations have been depleted during the economic downturn over the past four years.
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MOTORS.CO.UK, the UK’s second largest car search network, has announced its plans to partner with local newspaper group Johnston Press.
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New car finance sales rose 22% by volume in March compared with March last year, according to the latest figures from the Finance & Leasing Association (FLA). Sales by value were up 33% for the month.
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British Car Auctions (BCA) has secured a three year remarketing contract with Arval, which will see it sell both cars and LCV’s for the leasing company at three locations – Blackbushe and Edinburgh (cars) and Measham (commercial vehicles) – with all vehicles offered via Live Online.
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The Queen's Diamond Jubilee celebrations will impact used car prices with demand expected to dip as a result of the June bank holidays, according to BCA.
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A used car remarketing website, that has united some of the largest franchised dealer groups, has announced it plans to significantly increase membership this year on the anniversary of its formation in 2011.
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It stands to reason that all van fleet operators want to get the maximum price for their vehicles when selling them. And it’s pretty obvious that the way to do this is to present those vehicles in as clean and orderly a fashion as possible, so that buyers will bid for them ahead of dirtier more damaged examples.
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Car dealer Lookers said it has made a strong start to 2012, outperforming the UK market for used vehicle and fleet sales.
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Car supermarket buyers are out in force adopting sniper tactics for retail-ready cars at auction, according to Cap Black Book.
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Used car values in March for fleet and lease vehicles rose to the highest point in two years, according to auction house BCA, up by £81 or 1.0% to £7795.
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The FSA has fined a used car sales company £91,000 for failures in the way one of its brands monitored the sale of payment protection insurance.
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As part of the recent “Transforming DVLA Services” consultation, the Vehicle Remarketing Association has met with the DVLA in a high level show of support for the government department in its quest for change.
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With so much information to digest, compilers of used car valuations must have moments when they want to reach for the Rennies. CAP’s chief editor Chris Crow says that for starters there are around 50,000 makes of model and their derivatives.
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Demand for used cars this year will be similar to 2011 when the market fell back to levels not seen for 10 years and profitability had fallen by nearly 20%.
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THE latest Auto Trader Price Index reports that the average asking price of used cars in quarter one 2012 was £8,891.
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Tesco has closed its second-hand car website just a year after it launched, in another blow for the struggling supermarket.
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KeeResources, a leading provider of automotive data to vehicle manufacturers, retailers and the fleet industry, announces, with immediate effect, two key appointments to its board. John Davies joins as non-executive chairman and David Potts as chief financial officer.
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The extension to the electric vehicle grant scheme to include van buyers, along with the Plug-in Car Grant being funded until 2015, is an ideal opportunity for fleet managers looking to replenish their vehicles to buy these green vehicles.
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April brings with it a general good feeling in the motor trade. Dealer groups have enjoyed relative success with 12 plate, although there are still some new car supply issues. Prestige franchises are hit hardest. Some Land Rover and Audi product amongst others are still generating plenty of orders and further bolstering the long lead times. As a consequence, cars that could have been delivered in March will drag out through April and even into May which dilutes the March new registration figures.
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The amount of people flogging cars that they don't actually own is on the rise. The value of car fraud cases exceeded £13.6m in 2011, with a significant proportion of that taken by so-called 'conversion fraud'.
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The majority of dealers are not using price guides to help keep on top of profitability on used cars, but not all are willing to disregard them completely.
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Toyota has launched a new Approved Used Car Warranty designed for older and higher-mileage cars. The new scheme lets buyers purchase an extended warranty covering up to five years and is a Toyota backed warranty, not a third-party insurance product.
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Cars on PCPs and contract hire are increasingly being clocked to avoid mileage penalties, according to the Vehicle Remarketing Association (VRA).
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The Vehicle Remarketing Association (VRA) has added its support to the campaign to have mileage correction companies severely regulated to avoid illegal vehicle clocking.
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Manheim has bought Motors.co.uk, the UK’s second largest online used vehicle classified with 161,000 used cars registered in its site.
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Mazda has removed the fleet and remarketing director role from its corporate structure, with Steve Jelliss moving to become director, market support for Mazda Ireland.
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The value of dealer part-exchange vehicles fell 1.3%, January to February, to £2,348, and overall average values for remarketed values were up by 3.1% to £7,030 over the same period, according to auctioneer Manheim.
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Where does the dealer network best focus its attention when the current market becomes economically tough?
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Average used car values rose in February despite the continuing difficult economic conditions, according to British Car Auctions (BCA).
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The latest sales data from leading vehicle auction company, British Car Auctions (BCA), shows that average used car values continue to rise, despite the continuing difficult economic conditions.
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The Vehicle Remarketing Association has launched a range of training course dates for 2012, including a new Introductory course for employees joining the industry.
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DOZENS of companies are reducing the mileage on cars to bump up their value because of a loophole in the law.
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Car manufacturers and their franchised dealers have long enjoyed a close relationship with vehicle remarketing firms.
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Fewer company cars will be de-fleeted over the next couple of years as a result of the dip in new fleet registrations during 2009 and 2010, combined with a fall in early terminations and a continuing trend for organisations to retain cars for longer.
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Independent used car dealers are finding the going tough in the current economic conditions.
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CAR dealership Lookers overcame the weakest new car market since 1994 to roll out higher profits.
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The Ford Fiesta has been the UK’s favourite used car for two consecutive years, according to new analysis from Experian, the global information services company.
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The best sports cars in 2011 - rated by you
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Is a £5,000 bill on a £13,000 used car seven months after purchase bad luck? Or are dealers starting to put the squeeze on the owners of diesel cars?
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Conference report: Fleet managers should expect to see residual values for most of their stock remain static, according to David Raistrick, head of UK automotive at tax specialist Deloitte.
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A firm specialising in checking cars' histories prior to sale has thrown its support behind a BBC campaign aimed at protecting unsuspecting buyers
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Retail interest increased in January with sales up to 11.6 in January from 6.1 in December, Manheim’s Dealer Dashboard shows.
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The number of franchised dealers attending Manheim’s open auctions has doubled in the past 12 months. As the supply of three/four year old vehicles reduces following a decline in new car registrations since 2008, franchised dealers are facing an increasing challenge in sourcing good quality used stock to meet increased demand.
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Autorola, Europe’s largest online remarketing company is gearing up for a further year of growth in the UK with the appointment of six new team members.
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British Car Auctions (BCA) has released new data on the most popular colours for used cars sold at auction at the beginning of 2012.
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Demand for used cars over three years in age is set to remain high following five years with new car sales under 2.5 million units in the UK market.
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Pendragon, the car dealer behind Evans Halshaw and Stratstone, reported a 14 per cent rise in used vehicle sales last year, helped by the expansion of its Quicks second-hand car "supermarket".
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Pendragon, the UK’s biggest dealer group, confirmed it will develop its Quicks branded used car supermarket business this year.
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The introduction of social media marketing has helped G3 Remarketing increase its customer base and improve conversion rates, the firm has claimed.
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Sales of used cars in the four months to 31 January fell 11.7 per cent at Caffyns, reflecting the “uncertain” economic climate.
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Franchised dealers’ inability to source good quality stock is the biggest problem the sector faces over the coming year.
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A new service designed to give dealers more information regarding the valuation of used cars has been devised by vehicle information firm HPI and pricing specialists CAP.
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Used car volume growth at Pendragon, the UK’s largest dealer group, has outperformed the overall market over the past two years, according to chief executive Trevor Finn.
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Demand for used Saabs in the wholesale market is recovering despite the fact that the carmaker has gone into administration, according to online auction, CD Auction Group.
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Autorola has launched a new online remarketing initiative aimed at protecting a company’s brand when it disposes its used cars to the motor trade/wholesale market.
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Despite high inflation, the price of used cars fell 1.5% last year, figures show.
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Activity levels were at a record high across the entire SMA Vehicle Remarketing business in January, with the auction network and on-line services all recording strong demand.
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Experian Automotive launched a new online business intelligence tool at the NADA convention on Sunday that it says can enable dealers to better understand the market, the vehicles that are selling and the people who are buying them.
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Rising used car trade values will increase the squeeze on dealer profitability in February and beyond, according to the independent benchmark used car pricing guide CAP Black Book.
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Polk and AutoTrader.com recently reached out to almost 1,500 luxury vehicle owners to figure out what makes these buyers loyal to — or defectors from — a particular luxury brand.
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The Which? Car survey is the biggest and best in the UK. And the 52,563 people who took part last year have helped us to rank the most reliable medium cars - both new and second-hand.
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Ford Credit's financial results for the fourth quarter and the full year 2011 point to trends dealerships can expect in 2012, including a continuing scarcity of newer used cars, the return of seasonal ups and downs in used-car prices, and potential pressure on retail pricing for used cars.
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The last quarter of 2011 saw confidence forecasted residual values ease across Europe, perhaps signalling an ere of caution after a positive 12 months.
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Autoclenz will be cleaning around 160 visitors’ cars as part of its sponsorship of the 2012 Vehicle Remarketing Association Conference.
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Hyundai Motor UK has teamed up with online remarketing company Autorola to provide its 160-strong dealer network with an online trade used car sales system to enable it to sell its overage, duplicate and non-franchise used vehicles.
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More than half of dealers have positive expectations for their used car sales and aftersales activities during 2012, according to a new survey from Experian.
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Hyundai Motor UK has teamed up with leading online remarketing company, Autorola, to provide its 160-strong dealer network with an online trade used car sales system to enable it to sell its overage, duplicate and non-franchise used vehicles.
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Mitsubishi is aiming to bring fleet operators and dealers closer together and improve residual values with a new approved vehicle remarketing scheme due to launch on February 1.
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VALUATIONS experts Glass’s has published its views on ‘what’s hot’ and ‘what’s not so hot’ in the used car market in January.
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Autoclenz, the UK’s market-leading vehicle valeting firm, will be cleaning around 160 visitors’ cars as part of its sponsorship of the 2012 Vehicle Remarketing Association Conference.
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A 12-month pilot with several major AM100 dealer groups has led to the launch of a dedicated used car customer satisfaction index service.
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Manheim wrapped up 2011 with a double-digit gain in traffic to its online portals, according to the auction company’s latest monthly digital update.
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The same vehicles have been in the top three car sales positions for the last five years, according to new research.
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DEALERS are more confident about the prospects for 2012 but it will still be a challenging year according to Manheim.
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Consumers might well be feeling the financial pressure, but that’s not dampening second-hand buyers’ expectations when it comes to the level of equipment they’re prepared to pay for at auction, writes Jack Carfrae
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In many ways, this is the real Detroit motor show. The new models and the audacious concept cars may all be downtown, glittering under the lights of the car industry's biggest annual fair.
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The end of 2011 has proved to be one of the most unusual on record, with fragile trading conditions, but more stability in terms of used values than normal at this time of year.
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Wholesale used van values fell by just 1.3% (£54 to £4,013) in 2011 despite a significant increase in average age of nine months to 59 months and an increase in average mileage of 11,889 miles to 82,445.
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Well-balanced supply and demand in November saw average values improve by nearly 4% compared to October, according to BCA’s latest Pulse report.
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Mitsubishi Motors UK has launched an approved used car programme to boost sales and improve customer retention for the network.
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Pendragon chief executive Trevor Finn (pictured) is to head up the speaker line up at the Vehicle Remarketing Association (VRA) annual conference, which takes place at the Silverstone Circuit on 9 February.
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The Vehicle Remarketing Association (VRA) has announced its final speaker line up and key topics for discussion at its 9 February conference to be held at the brand new Silverstone Wing, Silverstone Circuit.
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Despite most economists producing a dire prognosis for the year ahead, the British Vehicle Rental and Leasing Association has engaged in some positive thinking by producing a ‘Fleet Optimists’ guide to 2012.
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Increased demand over a shortened trading period with reduced volumes in December saw average values improve by £250 (up 4.0%) compared to November, according to BCA’s latest Pulse report.
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Americans bought nearly 39 million used vehicles in 2011, more than three times the number of new cars, trucks and crossovers sold last year.
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The giant German car maker Volkswagen AG has decided to enter the Indian auto market with its used car business, Das WeltAuto, during the mid months of 2012, confirmed a company official. “ We have a 100% synergy from our global operations; we will be giving German quality in pre-owned cars. The speciality of our brand will be to not only provide warranty on Volkswagen cars but also on other car brands,” said Nee raj Garg, Member of the Board and Director, Volkswagen Group Sales India.
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Used car prices are likely to remain high throughout 2012, it has been predicted.
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BCA has confirmed that it is transferring business from its centres in Newport and Tewkesbury to the supercentre at Bridgwater just off junction 23 of the M5.
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Jardine Motors Group has signed up Manheim Auctions to remarket up to 50 surplus vehicles a week at its Leeds and Colchester auction houses.
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Average wholesale used van values increased by 2.6% (£104 to £4,063) in November compared with November 2010, according to Manheim Remarketing’s latest monthly market analysis for vans.
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Residual value expert Cap believes that electric vehicles are having a minimal impact on both the fleet and retail sectors and that there is little hope for them with the stronghold of internal combustion engines and the advent of other alternative fuels.
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TWO former financial advisers teamed up to sell second-hand cars which had been "clocked" at a total of 1.5 million miles – enough to get to the moon and back three times.
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Daily rental companies report that they have avoided the lengthy lead times fleets have had to endure.
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The BVRLA is calculating fleets could save time and money thanks to greater choice and flexibility in how they deal with the DVLA, after proposals were published by the Government.
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When buying a car, its value after three years and 37,000 miles is an important factor in the decision making process. After all, nobody likes to waste money on depreciation.
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Online remarketing company Autorola is predicting that growth in its own sector of used car sales will double in the B2B sector within the next five years.
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One in five motorists will lie to sell their used car, according to a study by used car specialists Trusteddealers.co.uk.
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With the market entering a traditionally quieter spell in the run up to Christmas, the Vehicle Remarketing Association (VRA) is reporting continuing stable trading conditions.
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Average used car trade values fell by 1.8% in December, according to figures from the CAP Black Book, but it was a smaller drop than normal for this time of year.
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With the market entering a traditionally quieter spell in the run up to Xmas, the Vehicle Remarketing Association (VRA) is reporting continuing stable trading conditions. In line with VRA predictions last month, prices are nudging down, but only slightly, as lower volumes of stock in the wholesale market are met with corresponding demand.
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