Call for dealers to sell older cars
16th August 2010
A predicted fall in used car supplies over the next 12 months has led to an appeal by Glass's for car dealers to sell older cars with higher mileages.
By next year there will be two million fewer used cars between one and five years old being driven compared with 2008, the company believes.
Drivers already desperately trying to keep motoring costs down by hunting cheaper car insurance will be pleased to hear, however, that the reduced availability of used cars is unlikely to cause a dramatic rise in prices.
Over 60% of franchised dealer stock in 2008 consisted of cars less than two years old, and yet this year alone there could be as many as 600,000 fewer one and two-year-old cars available for dealers to retail," explains Adrian Rushmore, managing editor at Glass's.
Mr Rushmore says the falls in used-car supply are the product of two trends - each month of low registrations has produced a proportionally lower number of part exchanges, and the prolonged period of low registrations has meant the stock of younger used cars has also steadily diminished.
"Despite the shortages, we should not get the idea that the market will be in a frenzied state of excitement in the next few years," adds Mr Rushmore.
Copyright © Press Association 2010
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