Search    Tax & fuel calculator |
Used vehicles have kept industry going through recession
publication date: Sep 3, 2010
|
author/source: Robin Roberts
According to definitive data from British Car Auctions there is clear evidence that sales of used vehicles played a crucial role in the motor industry’s recovery in 2009 and continue to make a significant contribution in 2010. Much expectation was put on the Government’s Scrappage Scheme to inject life into the retail motor sector during the recession – and it clearly played an important role – but BCA’s 2010 Used Car Market Report shows that the motor industry began the long climb out of recession in 2009 as a result of improving used car values. This was despite new and used car volumes reaching their lowest points for the decade. Although volumes fell in both the new and used markets last year, values held up well against numerous economic pressures. Used car values actually hit new record levels, exceeding £34 billion for the first time as prices rose sharply. Average used car selling prices also recovered strongly in 2009, rising from £4,868 in 2008 to £5,422 in 2009. In contrast, the 2009 new car market value remained flat at £28 billion. Higher than inflation rises in new car prices offset the effect of lower new car volumes, a shift towards smaller cars and scrappage scheme and other marketing discounts. However, in both 2008 and 2009, the used car market value has been significantly larger (£4 billion and £6 billion respectively) than the new car market value.  |
     Welsh travel servicesVisit
celticocean.co.uk  |
.gif){kind=small}