A recent survey by the Society of Motor Manufacturers and Traders (SMMT) said that used car sales have fallen by 2.1% when compared to 2016’s figures. However, G3 Remarketing’s findings paint a brighter picture.
Supporting G3’s previous findings on the types of cars performing well at auction, the company’s own recent poll also revealed that used vehicles under the value of £5,000 continue to be popular.
Business development manager, Adrian Maclauchlan said: “In an industry where new car sales have been popular for so long, it is encouraging to see vehicles under £5,000 performing well. In particular, we have seen smaller petrol cars in great demand at our sales.”
Additional results suggest that quality, price and selection of stock are the three most important factors reported by buyers, when it comes to sourcing vehicles for their forecourts. Plus, the two biggest challenges car dealers believe they will face in 2018 were revealed to be the potential slowing of customer spending, as well as the possible fall in the demand for used cars.
Alex Miles believes that auctions will continue to play a huge role in ensuring that the used car market thrives over the next 12 months.
He said: “Having bidders together in an auction hall creates a real buzz that’s hard to beat. Placing a bid online is quick and convenient – especially if you can’t make it to an auction in person that week – but for many dealers it doesn’t offer the same experience as being there.”
Yorkshire based G3 Remarketing holds up to 14 online and physical auction sales each month, with vendor Motability Operations being one of the most recent clients to have come on board.