Used car dealers are looking to utilise a “period of stability” in early 2020 that could bring improved user confidence, according to automotive tech firm epyx.
Epyx delivers the 1link Disposal Network remarketing platform and said it hopes the general election result will boost sales.
Go deeper with GlobalData
Vicky Gardner, head of remarketing at epyx, said: “The used car market stood up remarkably well to the uncertainty that characterised the economy in 2019 and the resulting loss of consumer confidence that affected all kinds of sectors. However, while it is clear that economic headwinds remain, there is a sense of hope that some pent-up demand will be released and that the sector will experience a strong start to the year.
“Certainly, we are seeing some encouraging trading figures on 1link Disposal Network and, anecdotally from our traders, are hearing that they are experiencing a good start to the year. Many dealers see this as a period of stability on which they should capitalise,” she added.
Gardner also said epyx continued to see an overall increase in online activity by dealers and traders of all kinds.
“We reported last year that, while this is a long term trend, our impression was that there had been a definite uptick. The signs are that this surge is probably continuing into 2020. All dealers are currently looking to minimise expenditure and the costs associated with acquisition are certainly part of that, so the appeal of sourcing stock online is strong, even though traditional auctions still have an important part to play.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalData“Certainly, we anticipate improved volumes through 1link Disposal Network this year, having seen a strong year-on-year rise in 2019. Currently, we are undertaking some major investments in the platform that are designed to help power this increase and will be making some new announcements about this very soon,” she concluded.
