Pre-Registrations on the rise Pre-registrations or Forced Registrations as they are also known have long been a feature of the UK motor industry. The practice of registering new vehicles even though they don’t have a buyer helps manufacturers balance factory outputs against demand and regional new vehicle sales targets, while at dealer level, financial incentives to hit volume targets in
New Vehicle manufacturing and registration fluctuations affect the Used market New car registrations for October came in at approximately 145,000, roughly equivalent to last year, and seen as something of a success given the economic conditions. BEV and PHEV registrations also rose quite dramatically year on year with increases of 24% and 27% respectively. The same cannot be said for
Wholesale Used Vehicle Market bucks seasonal trends At this time of year as central heating thermostats start to click on and the nights draw in, the auction halls and online sales are generally less populated, and Trade interest wains considerably as Retail customers logically put off unnecessary purchases until the New Year. This year may be somewhat different in our
Van-centric introduction! We normally try to touch on a wider topic, or something of specific interest in these introductions, but with September being the busiest month in the year for registrations (the data for which is not available at time of writing), and with LCVs making up by far the largest share of the vehicles that XBG remarket, we can’t
Amid the latest news that inflation is up and the number of unemployed in the UK has risen moderately, the Bank of England seems to be happy to allow the base interest rate to plateau at its current slightly uncomfortable level. Three years ago they predicted that late 2025 would probably be the point of near normalisation of interest rates,
“…wars and rumours of wars” Whether you have heard this old expression referring to a state of international unrest or not, it can’t be ignored that the current fragile nature of relationships between the most powerful world leaders does nothing for our sense of personal security, or for economic certainty in this part of the world. Mixed sentiments remain around
Used Marketplace Review While April is punctuated with the first of the year’s holiday seasons, it has still been a great selling month for XBG and our clients. Usually school and public holidays herald a flurry of sun seeking getaways and most often a dip in Trade buying. This year the general shortage in stock from some many auction vendors
Given the current political and economic climate in the UK, there was little change in the used vehicle and plant markets during the summer. The clearly deliberate hesitation by the Bank of England to reduce interest rates during the months leading up to the General Election created another stagnant market place for used vehicle sales, with forecourt transactions dropping way
HEADLINE NEWS As is normal for the first quarter of the year, following a quiet December and Christmas period January saw a fairly prominent upsurge in retail demand at the forecourts, with some traders reporting they were “very busy”. This created some very good selling conditions at auction in most sectors, with some very good conversion rates of sold stock.
HEADLINE NEWS The used markets remained very buoyant for much of the Spring in most sectors, despite the ongoing world issues with energy prices and the Ukraine war. It would appear that the average used buyer is putting these issues to their back burners and getting on with life, making the purchase of the used vehicle. Of course, the continuing