We use cookies to ensure that we give you the best experience on our website. If you continue without changing your settings, we will assume that you are happy to receive all cookies on the Business Car website. However, if you would like to, you can change your cookies at any time
The start point for the best source of fleet information |
New Chinese car brands entering the UK car market should eventually receive a positive response from used buyers, according to Aston Barclay.
The auction firm said its prediction was based on the success of Chinese-owned MG in the new and used market over the past few years.
Chief revenue officer Mark Hankey said: "Buying a Chinese used car doesn't seem as though it will be a compromise as the success of brands such as MG in the used market can confirm.
"The lead times for Chinese ICE and EV products are relatively short which suggests if fleets can get hold of the cars they will add them to choice lists.
"Fleets will also look forward to offering their drivers new EVs at sub-£30k prices where the majority of EVs have generally retailed at more than £50,000 up until now."
While many manufacturers have prioritised retail and leasing sales, Aston Barclay is expecting new Chinese brands to build awareness through rental, following on from MG's example.
Hankey said: "From a remarketing perspective, we generally don't predict new models hitting our auction lanes for up to two years after their launch.
"However, if cars get placed with rental suppliers we might see some of the new Chinese brands reach the nearly new used market during 2024 and early 2025.
"Currently values of MG ICE and EV cars sold through the Aston Barclay halls range average between £11,500-£13,500. If other Chinese brands reach the used market at that level then demand should be strong."
BusinessCar magazine ©2019
Business Car Magazine © 2020 | Business Car is part of NS Media Group.
