Used car values rose by 0.4% during July as automotive retail’s lockdown recovery delivered the month’s first price rise since 2009, Cap HPI has reported.
Strong demand and a shortage of supply triggered by pent-up demand experienced following the June 1 re-opening of England’s car showrooms was credited for the increase in used values at the three-year and 60,000-mile point in July, which followed an even stronger June.
Cap HPI reported that average values at the one-year point had stayed level and vehicles younger than this dropped very slightly.
At all other ages, there has been a small, positive movement.
While Derren Martin, Cap HPI’s head of valuations UK, told AM earlier this month that the used car market could be destined for the kind of “market correction” seen in May last year, it seems that the market is beginning to stabilise.
Martin said: “We have witnessed a relatively dramatic increase during June, then a stabilisation in July and it would appear that values have peaked but are remaining at or around that level for now.”
Cap HPI today (July 29) gave detail of the pricing trends’ winners and losers and winners in July’s market.
It said that some Electric Vehicles (EVs) and hybrids have struggled, despite a lockdown debate about the potential increase in demand for alternative fuelled vehicles (AFV) as reduced travel resulted in cleaner air around larger cities.
However, AFVs’ relatively high cost versus internal combustion engine (ICE) cars means that consumers currently find the premiums too expensive over a petrol or diesel vehicle, it said, adding that there also remained concerns about the range of pure electric vehicles (EV).
SUVs now account for 27% of used volumes, meanwhile, up from 20% just two years ago and the trend looks set to rise.
Yesterday (July 28), Jato Dynamics reported an increase in SUVs’ market share to 40% across Europe in its new car registrations report for June.
The rise of SUVs continues to come at the expense of upper-medium (D-sector) and MPVs.
Notable growth in used values has been seen in the Audi Q2, BMW X1 and Land Rover Evoque, while values have dropped for models such as the Citroen C5 Aircross, Hyundai Kona and Kia Niro.
Martin said: “Convertibles have certainly been in demand over the last few weeks.
“In more normal times, trade values would have peaked in late-May or June and would now be heading south.
“During July, values have increased by 2.4%. The reasons for this can be put down to some pent-up demand, good weather, no excess supply and the previously mentioned dynamic of some consumers saving some money during lockdown, and now looking to buy a desirable or even an extra car as a toy.”
Older more affordable convertibles have increased in price the most in percentage terms, models such as the Audi A4 Convertible, the petrol variant of which has increased by a phenomenal 32% or £825 (at 10-years old) and the Audi TT Roadster, up by over 11% or £1,000 at five-years-old.
Martin said: “Last month we predicted that July would be stable with no reason to expect a drop in values, but the large increases experienced in June were unlikely to continue.
“That is precisely what has happened. While there could be some very early signs of softening prices in August, we do forecast a relatively steady month, with possible drops to come from September onwards.
“When or if it comes, it is likely to be more acute for younger, higher value mainstream and premium cars.”
How Car Tires Are Manufactured
🚗 Cars are complex machines, each part made in highly specialized and specific ways, car tires included. Here is how car tires are manufactured.
🚕 Car tires are the part of your vehicle that keeps you moving forward. But have you ever wondered about how car tires are manufactured? Read ahead for a quick overview of the process.
❋ Design and Plan 👇
Designing the item you plan to manufacture is the first part of any industrial process. Car tires have been around for a long time now, and the manufacturing process is becoming increasingly digital. The design is usually created through engineering software, and the dimensions and curvature are handled with precision. After that, the tire-making machines receive this digitized format.
❋ Select Materials 👇
Most tires consist largely of rubber, both natural and synthetic. Oils, pigments, antioxidants, and other materials mix with the rubber to create each part of the tire. Tires must be crafted from quality, durable materials, including chemical agents, metallic cables, and fabric reinforcers.
❋ Melt and Mold 👇
Heat and friction work together to produce the final rubber composite that will mold the other parts of the tire. Tires are not one singular piece of rubber—they contain tread rubber, sidewall rubber, fabric-coated plies, and bead wires, among other components. A factory worker or automated apparatus then uses a tire-building machine in the shape of a collapsible drum to glue and set the tires. Finally, the tires cure over time, and subsequent heating and steaming help them fully coalesce
❋ Distribute Widely 👇
Quality control is important with tires—after all, tires must handle transporting drivers for thousands of miles on the road. After rigorous testing, the manufacturer packs the tires and distributes them to various sellers. These include tire stores all across the United States, from Trenton, New Jersey to Anderson, Indiana.
🟥 Knowing how car tires are manufactured can help you better select the parts for your vehicle. Because all cars are different and have specific needs, you should consult with a tire expert before choosing your next set of wheels.
👉↘ Source: Christina Duron is a freelance writer for multiple online publications where she can showcase her affinity for all things digital. She has focused her career around digital marketing and writes to explore topics that spark her interest.
Feast your eyes on the all-new, all-electric GMC Hummer EV
GMC has a new all-electric version of its classic Hummer oversized SUV. This thing is a beast, as you might expect, with an advertised 350-mile range and a 3-second zero to 60 mph time. It’s a bit ridiculous to be honest, which is kind of what the Hummer has always been about so that makes sense.
Alongside a teaser, GMC released a number of press photos of the 1,000 HP bruiser, so take a look below. It definitely looks like a Hummer – which may or may not be your cup of tea.
ALYI Highlights Next Steps
Dallas, TX – October 20, 2020 – OTC PR WIRE – Alternet Systems, Inc. (OTC PINK: ALYI) today announced plans to publish a comprehensive progress update next week targeting a Wednesday, October 28th release date.
Management indicates a number of major endeavors underway in important stages of development to include RevoltTOKEN financing partner’s efforts to finalize ICO details, next steps after finalizing the multiparty milestone agreement announced last week, and a new design path development for the company’s long-term plans for future electric vehicles in Africa.
Management anticipates wrapping up details on the above-mentioned endeavors by next Wednesday and being ready to release a comprehensive update.
For more information and to stay up to date on ALYI’s latest developments, please visit www.alternetsystemsinc.com.
Disclaimer/Safe Harbor: This news release contains forward-looking statements within the meaning of the Securities Litigation Reform Act. The statements reflect the Company’s current views with respect to future events that involve risks and uncertainties. Among others, these risks include the expectation that any of the companies mentioned herein will achieve significant sales, the failure to meet schedule or performance requirements of the companies’ contracts, the companies’ liquidity position, the companies’ ability to obtain new contracts, the emergence of competitors with greater financial resources and the impact of competitive pricing. In the light of these uncertainties, the forward-looking events referred to in this release might not occur.
Alternet Systems, Inc. Contact:
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