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Blog Entries about "used car sales"
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Shopping around online
We already know that new car registrations were 2.04 million units in 2012, which is an increase of 5.3% compared to 2011. However, it will be a few months before used car sales figures are released for 2012, and it will take even longer to work out how the distribution channels have fared – franchised, independent and private.
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With a fair (economic) wind …
At the Auto Retail Network used car profit clinic in Loughborough last month, I presented our preliminary forecasts for used car market volumes up to 2016. To produce a forecast for any of the auto retail markets we create a computer model incorporating the market drivers. Usually our forecasts are quite accurate: for example, our used car market forecast in 2002 was within 6% for 2003 to 2007.
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The new normal for motor retail
We’ve had a credit crunch, a recession, a new government and an emergency budget – all in the space of three years. So is that it? Will everything go back to ‘normal’ now? Yes, but probably not the ‘normal’ we experienced before. To use a current buzz-phrase, it will be a ‘New Normal’. Before we describe the ‘New Normal’, let’s dwell for a moment on what has happened.
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Dealer survey is not all doom and gloom
Earlier in the year in this column we discussed the state of franchise networks and our new study of the used car market. As is often the case in these troubled times, the situation changes almost daily as better information comes to light. For once, though, the new information is not all doom and gloom.
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Death and Taxes
The saying “Nothing is certain but death and taxes” has been attributed to various authors including Daniel Defoe and Benjamin Franklin. Almost as inevitable as 'death and taxes' is the way the UK's population is ageing. This evolving age profile will be a key factor in car purchases in the future. And it is not even the distant future that politicians baffle us with when they talk about pension provision. Your customers' needs will be changing quite dramatically within ten years.
The chart is our interpretation of data freely available from the Office of National Statistics and shows the age profile of the UK's population now and in five years. Noticeably the two lines are almost identical in shape reflecting the certainty that people who are around now are quite likely to be here in five years - give or take influences like immigration and emigration. -
Auto Retail Bulletin on the UK used car market
The October 2009 issue of Auto Retail Bulletin, the business newsletter for senior executives in auto retailing, carried a feature on some of the key findings of our latest 'Future of the Used Car Market in Great Britain to 2014' report. (Click on the heading above to download.) Those of you who are concerned with used car market trends may find it usefully amplifies the information posted in our Reports pages. For more information on the excellent Auto Retail Bulletin - to which Trend Tracker's Chris Oakham contributes a regular column - go to www.auto-retail.com.
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Nineteenth Motor Trader Industry Awards 2009
Trend Tracker director, Chris Oakham, was amongst 830 people at the Motor Trader Industry Awards 2009 held at the Grosvenor House Hotel, Park Lane, London yesterday evening, 8 July. The 19th Motor Trader Industry Awards celebrated the achievements of companies and individuals challenging the worst recession in the UK retail motor industry since the early 90s - and succeeding. Trend Tracker would like to add their congratulations to the winners of the 18 categories:
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Cars: choice or necessity?
A weighty tome landed in our office this week: 'The Car in British Society' from the RAC Foundation. It is the latest incarnation of what started out life as 'The Lex Report' latterly becoming 'The RAC Report'. Running to 158 pages, it is impossible to do the 2009 edition justice here, but merely pick out a few uplifting facts for motor retailers.
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Dealers: Bet the farm on used cars
In 2006 when we published our used car report, we took the view that disposable income would fall over the ensuing five years to 2011. And while the basis of our reasoning - tighter monetary policy - now appears almost irrelevant in the light of recent events, the reduction in disposable income has surely come to pass and is likely to get worse before getting better.