“High used car prices are here to stay”

“High used car prices are here to stay”

Category : ,

What a time to start a new venture in the car market. Spoticar seems like such a great idea, yet it was launched last year in the middle of twin perils: a global pandemic and the biggest supply shortage the car industry has ever seen.

In case you missed it, Spoticar is a new used-car programme from Stellantis and is set to cover its multiple and varied brands: everything from Fiat and Jeep to Citroen and Vauxhall. In effect, it replaces all the various makers’ own used car programmes, like Vauxhall’s Network Q, but currently only covers former PSA manufacturers Peugeot, Citroen, DS and Vauxhall.

It makes complete sense to group all these firms’ used-car stock under one roof, especially since we’re more likely to shop across brands and categories these days. And it gives Stellantis a ready-made rival to the big start-ups in the used-car retailing world such as Cazoo and Cinch.

These new players are surrounding themselves with businesses that support used-car supply and retailing. Cazoo has been busy buying those companies, while Cinch is owned by the Constellation Automotive Group, which already also owns BCA (formerly known as British Car Auctions) and WeBuyAnyCar.

The biggest battleground is getting cars to put onto your digital forecourt, which makes Constellation’s business model a smart one. But with Spoticar having access to cars coming back to Stellantis’s dealers and its leasing business, it has a stock advantage, too.

So what does all this mean for used-car buyers? According to Spoticar boss Nick Richards, the used-car market will settle down this year, although there’ll be no huge correction in prices. We will see price stability, though, he says, but supply will still be constrained. 

Is it a great time to buy? For some (like me), needs must. But the usual rule applies – do plenty of research before you buy anything. And remember, we’re always here to help.

Now read about the Best used cars to buy now…

Source : Autoexpress.co.uk
Tags :
Audi A3 review

Audi A3 review

Category : Car News, Newsletter

Audi hasn’t felt the need to reinvent the wheel with the latest [..]

New Audi R8 Performance RWD Edition 2022 review

New Audi R8 Performance RWD Edition 2022 review

Category : Car Reviews, Newsletter

The Performance RWD’s uplift in power is very welcome indeed, helping enhance [..]

New Fiat 500X Hybrid 2022 review

New Fiat 500X Hybrid 2022 review

Category : Best cars, Car Reviews

The 500X doesn’t quite live up to the fun-to-drive characteristics of the [..]

Skoda Karoq review

Skoda Karoq review

Category : Car News, Newsletter

In a crowded mid-size SUV marketplace, the Skoda Karoq offers what matters most [..]

New Mazda MX-5 RF 2022 review

New Mazda MX-5 RF 2022 review

Category : Best cars, Newsletter

The pricier RF wouldn’t be our choice, but it offers something a [..]

New Fiat Tipo Hybrid 2022 review

New Fiat Tipo Hybrid 2022 review

Category : Car News, Car Reviews

Being a jacked-up family car, the Tipo hybrid has to contend with [..]

DS 7 Crossback E-Tense: long term test review

DS 7 Crossback E-Tense: long term test review

Category : Car Reviews, Newsletter

Upon first inspection, the DS 7 Crossback can’t quite match its German [..]

New BMW XM prototype review

New BMW XM prototype review

Category : Best cars, Car News

Our first taste of the XM highlights the M division’s future direction, [..]