Mycarcheck.com’s valuation experts reveal significant trends in the UK used vehicle market and choose a car and bike of the month.
Head of valuation services at mycarcheck.com, Jon Wheeler, said: “The pure electric Nissan Leaf, winner of World Car of the Year in 2011, took a few years to win round the British public. Sales picked up from 2014 onwards and there are now over 15,000 on UK roads. Although the first generation (up to 2017) feels slightly dated, the nippy five-door hatchback still has a lot going for it as a used proposition, starting with ultra-low running costs. There’s plenty of space for the kids, its 270-litre boot can easily handle the weekly shop and you can pick up an early 24kWh example with relatively low miles for around £6,500. As ever, conduct a full vehicle provenance check prior to purchase and be sure to check the contractual terms of the battery – many were leased rather than bought outright, which could mean an additional monthly outlay.”
As to market trends, Wheeler said: “June was another challenging month for the new car market with registrations down almost 5%. Fleet and business sales in particular are well down on last year, with some dealers blaming uncertainty surrounding the long-term tax regime. The recent government announcement that company car drivers choosing a pure electric vehicle will pay no benefit-in-kind (BIK) tax in 2020/21 is therefore most welcome. With a host of exciting pure electric and plug-in hybrid models coming to market over the next 6-12 months, the business sector looks set to lead the way in adopting these cleaner technologies. Looking ahead, when they hit the used market in 3-4 year’s time, these vehicles will make a significant contribution to meeting our Road to Zero emissions targets.”
On the motorbike, scooter and moped sector, mycarcheck.com’s Mark Field said: “It seemed hard to improve on the incredibly competent S1000RR, but in 2013 BMW launched the exceptional HP4. They reduced the weight, improved the mid-range engine performance and added electronic suspension (which adjusts depending on the lean angle and throttle position) to deliver a new dream garage essential. Decent early examples currently cost around £12,500 but the build quality is great and this bike will always be desirable, so you shouldn’t have any issues when you come to sell. As always, ensure a full provenance check is completed prior to purchase.”
As to market trends, Field said: “June was the worst performing month of the year so far for new bike registrations. The relatively upbeat start to 2019 was interrupted by a slight dip in May, but June saw a disappointing 11% reduction compared to the same month last year, with the 651-1,000cc category seeing the largest drop. Overall, sales are still running 2.9% ahead of last year, but another month of low registrations over the summer could easily tip us into the red. In the used market, sourcing good quality stock remains an issue for dealers, largely due to the lack of trade-ins.”
With information from the police, DVLA, insurers and finance houses, My Car Check holds comprehensive data on every vehicle on UK roads, things that buyers should be aware of before making an offer – helping used buyers be car confident since 2005.
CDL Vehicle Information Services, which owns My Car Check, performs over a million look-ups a day for companies including AutoExpress, CompareTheMarket, Go-Compare, Moneysupermarket, Swiftcover and Tesco.