June 6, 2023

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VRA warns of 'difficult year ahead' for used car sector

VRA warns of ‘difficult year ahead’ for used car sector

The Automobile Remarketing Affiliation (VRA) has warned its customers of a tricky 12 months in advance.

A lot more than 150 delegates attending the VRA’s once-a-year seminar have been informed they confronted a raft of troubles, which include recession, inventory shortages, agency agreements and electrification

Philip Nothard, chair at the marketplace entire body explained the sector could prosper by becoming adaptable.

“There was a really distinct message coming via that this continues to be a sector that, by adapting to modifying swiftly customer requirements and hard current market conditions, will very considerably mature and thrive.”

With the topic of “2023: The Calendar year Ahead in Remarketing” and held at Warwick University’s The Slate venue, the occasion was cost-free to show up at for anyone doing the job in the motor business with an fascination in the utilised auto sector.

“This is the 1st Annual Seminar that we have been ready to keep in a few decades because of the pandemic and as this sort of, there was a definite excitement in the area. It was incredibly nicely-attended and the feedback we have gained has been overwhelmingly outstanding.

“To us, this celebration, with commentary appropriate to all details of remarketing, illustrates the one of a kind placement that the VRA retains in the motor field as the voice of the overall span of the utilised auto sector.

“We’d like to thank everybody involved – the speakers, attendees, hosts, sponsors and individuals at the rear of the scenes – for encouraging to make this a good results.”

Graeme Chaplin, Financial institution of England David Bailey, Birmingham Business School Jim Saker, Loughborough College Euan McTurk, Plug Existence Consulting and Matthew Waller Fleetcor.

The Automobile Remarketing Association was established in 2010 by senior executives from providers associated in all facets of remarketing made use of cars which involving them take care of, sell, inspect, transportation or handle more than 1.5 million.