Market Review As the world continues to wrestle with the impact and effects of the Covid19 pandemic, the used vehicle markets have proved to be remarkably resilient. The first quarter of this year was largely spent in lockdown around the country and it is fair to say that the car markets probably suffered more than the LCV, Truck and Plant
Market Review Since our last blog, the market has now really divided into two halves of success and mediocre; LCV’s remain extremely popular attracting very strong pricing whereas the car market is now struggling with a real lack of demand at the forecourts. Many car dealers have left a fair number of their staff on the Government furlough scheme, as
Following yesterday’s news about the release of this latest lockdown and of the Xmas celebrations allowed, the markets carry on seemingly unaffected by this statement, at least so far. The car markets have since the commencement of lockdown 2, been in freefall with prices dropping off dramatically. Indeed demand is now so poor that it is really just anything different
Market Review The summer months have been quite literally on fire at the used markets and that is pretty much across the board, cars, vans, trucks and plant. This has been despite the various Government restrictions and lockdowns, most recently of just 6 people meeting in any gathering, indoors or outside. This doesn’t affect the motor trade too much, as
As we now slowly but surely head out of lockdown all auctions have now resumed working, albeit in an online method of sale only. Currently there is no possibility of buyers or vendors attending the auction sites on sale days because most cannot enforce the strict social distancing rules laid out by the Government. Rather interestingly, one auction has managed
Many of the auctions are now operating online only sales for the time being and for the most part they seem to be working well so far. Generally speaking, prices are not too removed from where they were pre-lockdown back in March so no nasty surprises at the moment. We are really waiting for a more normal supply situation, when
Used Markets Were Stable After a pretty good winter trading period, both the car and commercial vehicle markets remained in good shape as we headed into Spring. However the Coronavirus crisis started to impact trading on dealer forecourts in late February and, by mid-March it had caused retail activity to reduce by as much as 70% in some cases. And