By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
BeFirsTrankBeFirsTrank
  • Home
  • Car Reviews
  • Auto Shows
  • Bike Reviews
  • Future
  • New Car
  • Used Car
  • Contact Us !
Reading: UK used car outlook ‘resilient’ says Sword Apak
Share
Aa
Aa
BeFirsTrankBeFirsTrank
  • Home
  • Car Reviews
  • Auto Shows
  • Bike Reviews
  • Future
  • New Car
  • Used Car
  • Contact Us !
Search
  • Home
  • Car Reviews
  • Auto Shows
  • Bike Reviews
  • Future
  • New Car
  • Used Car
  • Contact Us !
Have an existing account? Sign In
Follow US
© 2023 BeFirsTrank News Network
Used Car

UK used car outlook ‘resilient’ says Sword Apak

Loknath Das
Last updated: 2017/06/14 at 5:25 AM
By Loknath Das 3 Min Read
Share
SHARE

Image result for used carAnalysis by wholesale finance software expert Sword Apak indicates the UK used car market will remain ‘resilient’ throughout 2017 as the new car market struggles.

Sword Apak based its prediction on its historic detailed knowledge of dealer stocking activities and how the market tends to respond to economic changes.

James Powell, executive vice president of Sword Apak, said: “While the new car market is expected to slow in the months ahead, we expect the used sector to remain resilient overall.

“Modelling on historic consumer car buying behaviour during terms of economic challenges, there is typically a shift of interest towards greater affordability which is associated with a used car.

“A similar pattern, albeit on a shorter-term basis, is reflected during major political events such as an election.”

Powell said that although over recent years the growth of new car PCP finance has offset affordability advantages of used cars, the emergence of used car PCPs has changed this dynamic, swinging the affordability balance back to used vehicles.

He added: “We also believe the post general election Brexit dialogue will provide an unusually long ‘tail’ to the political influence on car buying; this uncertainty will, we expect, benefit the used car sector.”

In the short-term, falling disposable income, rising inflation and the general election have seen auction businesses reporting a softening of used car activity by dealers.

Nevertheless, Powell expects both conversions and values to stabilise in light of consumer demand.

Powell said: “There are many disruptive and evolutionary influences on the car buying market place, including the (as yet uncertain) clean air approach, along with political and economic influences.

“However, for car buyers, a used car has historically been seen as the safe haven option. We expect to see this scenario to play out again as the year unfolds.”

Sword Apak has provided leading global financial software solutions to the banking and wholesale finance sectors since 1979.

Today, the business works extensively across the automotive and asset finance sector globally and is recognised for its expertise in wholesale finance stocking software.

As well as wholesale funding software, Sword Apak provides a number of innovative software systems across the retail banking sector.

Sword Apak is based in the UK with nearly 100 clients globally.

[“Source-ndtv”]

You Might Also Like

Problems with the Alfa Romeo 166: Common Problems and Costs of Repair

4 Reasons to Buy a Used Car and Things to Keep in Mind

Utilize the Advantages of Used Car Financing for Smart Investments

Over the Next Ten Years, the Used Car Industry

The Future of Used Cars: Why Pre-Owned Vehicles Are the Best Option

TAGGED: Apak, Car, Outlook, Says, Sword, UK, Used, ‘resilient’
Loknath Das June 14, 2017
Share
Previous Article Russ Darrow Group ranked first in Wisconsin for used car sales
Next Article Used car website Auto Trader’s profits up 18 per cent

Calendar

September 2025
MTWTFSS
1234567
891011121314
15161718192021
22232425262728
2930 
« Aug    

Latest Trending News

  • How Google’s AI can help transform health professions education September 3, 2025
  • Your Ebike Battery is Draining Too Quickly? Six Reasons August 29, 2025
  • Test of Turbo Petrol-Powered Automobiles: Actual City and Highway Fuel August 26, 2025
  • Buying a Used VW Car in Albuquerque? Here’s What to Know August 21, 2025
  • What to Do If the Trunk of Your Nissan Won’t Open August 20, 2025
  • Fatherhood, marriage, and Longevity in the August 14, 2025
  • Style, Luxury, and Innovation in a New Car Coming in 2024 August 13, 2025

© 2023 Befirstrank News Network. All Rights Reserved.

Removed from reading list

Undo
Welcome Back!

Sign in to your account

Lost your password?