Used Car Prices Expected To Rise

Auction houses have been hit hard by the recent cold weather and snow

, particularly in Scotland and the north east of England. Auction houses such as British Car Auctions have reported a low turnout and massive problems with logistics. There is not a lot of stock coming through at auctions and even when there is there are not a lot of people at them to ensure all vehicles are sold.

This could mean that we will see a rise of used car prices in the New Year, the more difficult it is now to buy used car stock the more harder it will be to get good deals in January when more buyers will return to the market.

A lot of the big players such as used car trade centre have already stocked up, large franchise groups have also stocked up but, have had to be high prices for packs of cars, this is certainly the case for VW and Ford used car stock.

Despite relative stability in terms of retail sales, research has shown that over the past six months the profit margin on used cars has been eroding. CAP and other industry experts have predicted that used car values will remain stable or even rise slightly next year, which means dealers will face a real challenge selling to hard-hit customers as spending cuts and tax rises kick in.

Mark Bulmer from AM Magazine has predicted an increase of used car prices in the New Year, he said, My personal opinion is that used values may well strengthen to levels comparable with the rises in 2009 by the middle of the year.

by: whitescot

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