Head of Valuation Services at My Car Check, Gavin Amos, revealed significant trends in the UK used vehicle market this week, as used car sales dip ahead of September’s new plates.
He said “Often overlooked as a used vehicle, the BMW X1 represents a surprisingly affordable route into the premium sector. They take mileage very well, have the typical BMW driver-focused appeal, and offer plenty of room as a family car. Perhaps due to competition from the likes of Nissan’s Qashqai and Audi’s Q3, the X1 often seems to fall off the radar. As a result, there are usually plenty on the used market to choose from. The frugal yet flexible diesel engine models generally hold their value better, and full service history is a big plus.”
As to market trends, Amos said: “Used car sales have slowed over the last month, which is only to be expected at this time of year. Retail customers are spending their disposable income on holidays, so motor dealers’ forecourts are quieter than normal. Come September, with the kids back at school and the arrival of the new 66 plate, there’ll be a surge in new car buying activity, with plenty of good condition trade-ins providing a welcome boost for the used market.”
On the motorbike, scooter and moped sector, My Car Check’s Rob Hobson said: “All Honda Fireblade CBR900RR examples are increasingly sought after, from the first incarnation in 1992, by legendary Japanese designer Tadao Baba, to the last 2002-04 model, prior to the launch of the current CBR1000RR. The Fireblade went through many changes – gaining weight, losing weight, and being more and less track-orientated – with some models more in demand than others. The 954cc CBR900RR is still relatively affordable and an un-crashed example, if you can find one, will do everything you could ask of a road bike. As always, checking the history will help you avoid a lot of the common used market pitfalls.”
As to market trends, Hobson said: “It is very much a mixed report this month. New registration numbers for 2016 are still up, although July was down compared to the same month in 2015 – the first time that’s happened this year. Most feedback also suggests that the used market is rather muted. It might well be down to lack of use thanks to the unpredictable weather, but people seem to be hanging on to their existing bikes.
“There are certainly fewer prime condition examples available to buy, and demand is sluggish. Hopefully a few weeks of late summer sunshine might prompt a bit more activity.”