The impact of the pandemic on the UK’s remarketing sector continues to be felt with wholesale values seeing unprecedented monthly rises in value, driven by the insatiable consumer appetite for used vehicles.
This growing demand for used cars has many drivers.
The widely reported global shortage of semiconductors continues to disrupt car production, prompting some buyers to switch to used vehicles rather than endure the extended delivery times on new models.
At the same time, commuters are heading back to workplaces, following the lifting of COVID-19 restrictions, and have been considering used cars as alternatives to public transport.
The pandemic has also created so-called “accidental savers,” some of whom are looking at buying a car as a much-needed treat, instead of risking the uncertainty of booking a foreign holiday.
All of these factors have played into high levels of interest from dealers, especially non-franchised retailers, for used cars of all shapes, sizes, ages and conditions.
“We’ve seen large numbers of independents trying our UPSTREAM platform, having never bought vehicles online before, and coming back regularly because they appreciate the always-on convenience and safety of sourcing fresh stock digitally,” said Jonathan Holland, ADESA UK’s Managing Director.
“The mix of vehicles on UPSTREAM has never been richer from retail-ready defleets from our leasing, finance and corporate partners, to overage dealer part-exchanges and high mileage trade-outs in need of some TLC,” he said.
“We’re certainly noticing increased interest in cars which may have been slow sellers pre-COVID. These are being snapped up by retailers keen to satisfy the changing requirements and budgets of their customers, making UPSTREAM a powerful B2B platform for independent dealers of all sizes,” he said.
Furthermore, the transparency of our condition reports is enabling independent retailers to buy with confidence, factoring in the work they know will be needed to get vehicles forecourt ready.
If you want to see a wide selection of vehicles to meet your stock profile requirements, visit ADESA UPSTREAM today and discover how we can help you source online 24/7.