MyCarCheck.com/Trade, the trade valuations arm of CDL Vehicle Information Services, uses cutting-edge industry data and feedback from independent and franchised dealers to monitor market trends.
Head of Valuation Services at MyCarCheck.com/Trade, Gavin Amos, commented: “May brings no great change to the used car market. The shortage of good, low mileage 2-4 year old stock continues. The weeks following a new registration month usually see a period of relative inactivity as dealers prepare and sell an abundance of part exchange vehicles.
“For May, values remain largely unchanged. Cars such as old 7 Series BMW and early Mercedes ML are now considered ‘too big and dirty’, so values have been pulled back by around 3%. On the other hand, star performers from Audi and Range Rover, such as Q5 and Evoque, are seeing even stronger demand.
“This year some main dealer sales departments have a real issue in getting fresh used stock prepared for sale. They often benefit from a reduced labour rate but, with the pressure on service departments to increase profits, higher paying retail customers take priority.
“In many cases, bringing older, higher mileage cars up to the exacting standards of manufacturer-approved used schemes is proving costly, squeezing the profit margin. Some groups are combating this by branding these older cars in a different, less stringent approved package. This way the preparation is kept to a minimum and the buyer still has main dealer peace of mind.
“Although new registrations for March were healthier than many predicted, there are suspicions that a lot of the cars were not actually sold. The pre-registering game is by no means a new one – it has played a major part in supplying dealer networks with nearly new stock for years.
MyCarCheck.com/Trade provides buyers and sellers with all the vehicle price data they need. As a free bonus, it also provides the annual road tax cost and key DVLA information, including the make, model, colour, engine size, body style, fuel type and date of registration.
Simply enter a car, van or motorcycle registration and the vehicle’s mileage to get an accurate valuation and additional information in an instant. Once signed up you can check as many vehicles as you like at no extra cost via smartphones and desktop.