With the used car market displaying relative stability
after a period of falling values, Shoreham Vehicle Auctions has
reported an apparent cautiousness in buyers and sellers when
pricing second-hand vehicles.
Alex Wright, managing director of Shoreham Vehicle
Auctions said although market supply is low there is a
vigorous demand for older stock with a good service history, lower
mileage and little damage.
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As September heralds the new plate
registration, Shoreham expected low sales in August with a shortage
of vehicles as demand increases. Prices are expected to go up,
putting retailers in the compromising position of paying larger
amounts for second hand vehicles without any assurance they will
sell quickly.
According to latest figures from
the Finance
& Leasing Association,
which this year made footfall at used car forecourts the focus of
its annual used car seminar, used car finance in May
was up
12% year-on-year indicating there is still appetite for used
cars at dealerships.
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By GlobalData
