It's not just a question of dealers and others in the remarketing industry spending more money on bringing vehicles up to the expected retail standard, but allocating additional time and enforcing new standards.
With the theme of “2023: The Year Ahead in Remarketing” and held at Warwick University’s The Slate venue, the event was free to attend for anyone working in the motor industry with an interest in the used vehicle sector.
The last few years had taught at least some manufacturers that there were greater profits to be made from reducing supply and keeping new vehicle prices high. However, when supply was cut substantially during the pandemic, many car makers found that they were able to make equivalent or greater profits despite selling fewer units. Reduced volumes meant that they could keep prices higher.
When it comes to EV adoption, there is a direct link between easy availability of charging and the overall likelihood that consumers will make the switch to electrification. These are decisions that tend to be made on a local basis. Motorists can see whether chargers in their area are around in large numbers and make an assessment about how easy it is likely to be to use an EV.
We’re in a period where all used car buyers are paying much more for vehicles than they were even a few months ago and, as a result, expectations have understandably shifted in terms of vehicle condition, proposition and overall service.
The Vehicle Remarketing Association said that its members were experiencing issues finding staff to fill all kinds of long-term positions, and that the problem was being exacerbated by the ongoing short-term demands of self-isolation.
VRA members say they are currently under quite a lot of pressure but the majority believe that they coping as the Association tries to signpost support for those who are perhaps struggling.
Vehicle Remarketing Association says that missing service histories can have an impact on the value of a car or van easily running to 5% or more.
VRA chair Sam Watkins said: the while there is a quite a lot of stock in the market, comparatively little of it is of the highest ‘retail ready’ quality and can be put on sale with minimum preparation.
There has been growing momentum behind the VRA for some time now with increased membership and a higher profile for the organisation.
