Second hand cars remain immune to booming new sales

 

There has been good news for second hand dealers specialising in Ford UK cars for sale, with a leading used automotive sector group publishing figures suggesting that the industry is holding up extremely well, despite the recent boom that has been seen in new vehicle transactions.

This Fleet News article discusses recent data that has been collected by Black Book Live, a branch of the car intelligence service experts CAP Automotive, which specialises in keeping a comprehensive real-time trending track of the values of vehicles as they rise and fall.

Within the piece, encouraging words for vendors of used cars for sale in Bristol and other trading hotspots across Britain were included, with the article focusing on the fact that an upturn in new car sales is usually accompanied by the reverse happening in the used market, but that this is far from the case at present.

The article pointed out that the value of used cars is currently typically falling by around 1.6 per cent once vehicles reach either the three year of 60,000-mile mark, which is roughly in line with what is normally expected. However, as the article explains, 'what is unusual about the strength of the used market...is that relative stability is being achieved in the face of soaring new car sales - a phenomenon which has historically caused significantly increased depreciation across the board'.

Impressively, the Black Book Live figures show that total sales of used cars are up 13 per cent year on year in the UK, and that Britain is once again propping up the disappointing sales rates that were recorded throughout much of the rest of Europe. Overall, second hand sales at home have now been on the rise for 16 months in a row.

As the senior editor of the platform behind the research, Derren Martin, said in a statement: 'this year the whole market is benefiting from sustained retail demand and we expect nothing more severe than typical seasonal depreciation between now and September'.

Image credit: EpSos.de (flickr.com)