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Used car sales slump steeper in Wales
publication date: Sep 1, 2009
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author/source: Robin Roberts
Used car sales in Wales have fallen more than the national average. While UK showrooms and forecourts saw a 6.6pc drop, in Wales there were 7.8pc fewer sales in the second quarter of this year. Experian, the global information services company, compiled the figures for the period April to June (Q2) 2009. Analysis shows that in the second quarter there were 100,304 used cars sold, 7.8pc less than the same time last year and 0.5pc down on the first quarter, which suggested the scrappage scheme is taking an increasing toll on used car sales. It will also mean that sticker-prices should decline for used cars and it is a good time for buyers who cannot afford the scrappage scheme to look at the used market and do comparisons. One of the biggest casualties of Q2 in Wales was the used mini segment, down 10.8 per cent year-on-year. With the scrappage scheme attracting car buyers to small cars in the new car sector, it has been at a cost to the sale of small cars in the used car sector. A key highlight for Q2 used car sales was the leap in sales of the used sports segment, up 5.6 per cent on Q2 2008 and up 19.0 per cent compared to Q1 2009, prompted by the prospect of a hot summer. Mark Nuttall, General Manager of Experian’s Automotive business, said, “Although used car sales fell in Q2, used car values have been at their strongest and are likely to remain buoyant over the next couple of years . This should help offset some of the decline in volumes. This has been confirmed by dealer feedback that strong used car values have helped profits either increase or remain stable, despite the fall in sales. “The fortunes of the new and used car sectors are very much linked and the scrappage scheme has had an impact on the industry as a whole. Although focus on small cars shifted from used to new, the scrappage scheme has helped increase footfall and enquiries to all dealerships.” |
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