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CarTakeBack Scrap Car Price Update February 2021

CarTakeBack provides the latest scrap car price update for February 2021

 

CarTakeBack Scrap Car Price Update February 2021 feat

As SMMT reported another poor month for the new car market – a 35.5% year on year drop to new car sales, CarTakeBack has more positive news relating to the average prices being paid for scrap cars in February. After an increase to start off the new year, February has seen scrap car prices plateau. The average scrap car price remained at the same level as in January.

Prices were also up by 31% compared to February 2020. We are nearing a year since the first nation lockdown began, meaning year on year comparisons in the coming spring months will be interesting to see.

Another month of high prices means that the CarTakeBack network’s average prices so far in 2021 surpassed those seen during any month in 2020.

Top Cars Scrapped in February

For the eighth consecutive month, the Ford Focus was the most common vehicle scrapped by the ATFs in the CarTakeBack network.

There’s been movement in the top cars scrapped by the CarTakeBack network compared to last month, the Ford Focus was again top, but February saw the Vauxhall Corsa and the Ford Fiesta switch places.

About the CarTakeBack Scrap Car Price Index

The CarTakeBack Scrap Car Price Index is a rolling monthly index covering the last 13 months. It’s updated monthly using the prices paid for scrap cars at CarTakeBack recycling centres throughout the UK. The prices are shown as a percentage, using the first month as the base price.

We’ve taken into account that cars come in all shapes and sizes, which has an effect on their scrap value, by adjusting the prices to show what the average car would be worth. This means that the index gives a great indication of the movement in the value of scrap cars from one month to another.

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Owain Griffiths

Owain Griffiths

Head of Circular Economy at Volvo Cars

Owain joined Volvo Cars in June 2021 to lead Circular Economy in the Global Sustainability Team. The company has committed to being a circular business by 2040 and has financial, recycled content and CO2 based targets for 2025, all of which Owain is working across the company to make happen. Owain previously worked for circular economy consultancy Oakdene Hollins where he advised businesses on evidence led circular economy implementation. 

Turning into a circular business and the importance of vehicle reuse and recycling.

The presentation will cover the work Volvo Cars is doing to achieve 2025 but mainly focus on the transformational work towards 2040 and the business and value chain changes being considered. Attention will be paid to the way vehicles are being dealt with at the end of life and the complexities of closing material and component loops. Opportunities and challenges which Volvo Cars is facing will be presented including engagement with 3rd parties and increasing pressure from stakeholders.

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e2e Total Loss Vehicle Management [e2e] is the UK’s only salvage and automotive recycling network with nationwide, environmentally compliant sites delivering performance resilience and service reliability to the insurance and fleet markets.  The network’s online salvage auction www.salvagemarket.co.uk drives strong salvage resale values and faster sales.  e2e’s salvage clients have access to the network’s stocks of over 5 million quality graded, warranty assured reclaimed parts. 

The power of the network model means e2e has the ability to influence industry standards and is committed to continually raising the bar whilst redefining the role and perceived value of the salvage operator.  Network members adhere to robust service level agreements, against which they are audited, in order to ensure performance consistency and a market leading customer experience.  

The salvage and recycling operating environment is evolving rapidly, and e2e is anticipating, listening and responding to changing market needs.  Regulatory compliance, ESG, reclaimed parts, customer experience, EVs, new vehicle technologies, data and reputation risk are just some of many considerations linked to the procurement of salvage services.  e2e will drive further added value to clients and members through the adoption and application of emerging technologies, continuing to differentiate its proposition and position salvage services as a professional partnership. 

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