Vehicle value performance falls from September but Lockdown 2 has little affect

On 19th November our experts reviewed the latest new and used market vehicle performance in the context of the current economic performance across the UK.

You can watch the webinar here for a complete view by our experts

New car registrations for October were only marginally behind last October, with LCV new registrations performing better than the same time last year. Overall the private car sector has performed better than the fleet and business sector.
The trend within new vehicle purchases is a continuation in the popularity of BEV models at the expense of ICE variants, particularly diesel models. The team forecast 2021 will be a bumper year for BEVs.

The overall view of dealers large and small for the second lockdown is that it remains well worth their businesses remaining open. Many businesses have moved to adapt their operations to remain open, learning from the significant impact of Lockdown 1.

Looking forward, the lack of Brexit clarity makes it difficult to provide clarity on how this will affect values, but the considered view is that if tariffs do happen, it will be bad for new car sales but good news for used car values. Our short-term forecasts for the next 3 months will be for a fall in values.