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4x4 models lead used cars revival as RMI launch into dealer finance
publication date: Feb 8, 2010
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author/source: Robin Roberts
| Manheim Remarketing’s latest Market Analysis for Cars
reports that while average wholesale values rose by 4.5% (£312) to
£7,187 in January compared with the previous month, it would appear
that the cold snap may have influenced demand for 4x4s. | Overall, average values in the Fleet sector rose by 5.8%
(£360) to £6,609, Dealer part exchange values rose by 2.0% (£44) to
£2,212 while Manufacturer stock increased by 3.5% (£422) to £12,438.
However, the increased demand for used 4x4s caused by
heavy snowfalls and freezing conditions in January forced values up
even higher. 4x4s in the Fleet sector rose by 13.9% (£1,670 to
£13,643), Dealer part exchange 4x4s rose by 21.9% (£838 to £4,668) and
in the Manufacturer sector, 4x4s increased by 12.1% (£1,960 to
£18,203).
Mike Pilkington, Managing Director, Manheim Remarketing
said: “Although average wholesale values increased in January, much as
expected, the bad weather certainly had a disproportionate impact on
4x4 values. | | RMI Motor Finance, its newly formed finance arm, has teamed up with Moneyway to launch two finance products for dealers.
The Moneyway "near prime" product will allow motor dealers to offer
finance products to a broader range of customers.
It is also offering a
prime product aimed at small to medium size dealers who, it said, have
seen "a significant reduction in the number of finance companies
supporting this sector". | | “During the worst of the weather, physical attendances
at the auctions were affected but overall attendances remained strong
as a much larger than usual number of buyers logged onto Simulcast, the
UK’s premier trade-only online wholesale channel. We expect values to
remain strong in February and March before the seasonal softening of
the market becomes evident.” | | | | |
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