“There's not going to be loads of stock coming back in September because of the shortage of semiconductors with new cars and shortage of part-exchanges and fleet returns off the back of that. I think demand will continue to stay strong.”
The magazine asked 16,328 drivers how reliable were their vehicles over the years. For this study, they considered 178 models and 30 UK car brands.
Auto Trader noted 15.8 million visits in the third week of August, an increase of 32% from the same week in 2019, underlining the enhanced public interest in purchasing used vehicles.
According to the statistics, the top ten performing vehicle adverts also consisted of electrified cars, including the zero-emission Mazda MX-30 and Volkswagen ID.3, as well as, the hybrid Toyota Prius+. It shows customer’s likes towards alternative fuel vehicles.
New to the 2021 Goodwood Festival of Speed was Electric Avenue. This latest attraction was intended for electric vehicle enthusiasts who wanted to minimise their carbon footprint by opting for all-electric vehicles. The event exhibited everything from minis to super electric cars.
According to the Society of Motor Manufacturers and Traders (SMMT), automakers developed around 55,000 vehicles in May, contrasted to only 5,314 in the same time a year earlier. Evaluating it with May 2019 numbers, the UK car production is still 50 per cent down.
However, the reality is completely different from what vehicle purchasers believe. The dealers only keep approximately a 7 per cent profit margin when they sell a new car. On the other hand, on used car proceeds, the dealerships hold 12 to 15 per cent profit.
Without doubt, there has been pent-up demand, and as restrictions have eased, this has been unleashed onto the market with our dealer introducers reporting luxury cars being snapped up quickly and a lack of stock.
Head of the valuation at Cap HPI, Derren Martin while sharing his thought on the situation said, “With demand from dealers at a high, stock levels low and concerns over the future supply of used cars, there has never been a better time for consumers to cash in on their cars.”
If you want a used utility vehicle that is big, luxurious, and grand, you would love to have the 2016 Mercedes GLE in your garage. From the heavily chromed nose to the big, vertical rear, it has every bit you would expect in a Mercedes utility vehicle, and that is what motorists like most about it in the UK.
