Latest BCA report shows used car sales return to pre-recession levels
This week, figures published from the new BCA Used Car Market Report (September 2013) have shown that used car sales have returned to pre-recession levels. Professor Peter Cooke of the Centre for Automotive Management, University of Buckingham Business School, who authored the report, has said “lower inflation, lower fuel costs, rising employment and a more stable economy helped restore car buyers' confidence somewhat in 2012.”
It also showed that dealers are coming out on top of the used car sales market, reaping 57.2% in terms of sales and representing 74.4% of the total market value. The stock shortage of used cars aged less than two years old has led way for vehicles aged from six years to well over nine years old to sell well over the last few years and with wider selections available on their forecourts, dealerships are dominating the market.
The BCA’s press release detailing the results of the latest used car report also included some interesting figures related to the number of households, due to the impact of the recession, which are currently without a vehicle. In the last three years, the figures have risen from 23% to 28%. The number of London families without a car rose by 12% according to the report. But the good news is there should be plenty more affordable newer aged used cars coming onto the market as consumer confidence rises, leading to more consumers saying they are likely to buy a new car or upgrade their used vehicles in the next twelve months.
For more figures, information, and key findings on the BCA Used Car Market Report, please visit the BCA website here.
It also showed that dealers are coming out on top of the used car sales market, reaping 57.2% in terms of sales and representing 74.4% of the total market value. The stock shortage of used cars aged less than two years old has led way for vehicles aged from six years to well over nine years old to sell well over the last few years and with wider selections available on their forecourts, dealerships are dominating the market.
The BCA’s press release detailing the results of the latest used car report also included some interesting figures related to the number of households, due to the impact of the recession, which are currently without a vehicle. In the last three years, the figures have risen from 23% to 28%. The number of London families without a car rose by 12% according to the report. But the good news is there should be plenty more affordable newer aged used cars coming onto the market as consumer confidence rises, leading to more consumers saying they are likely to buy a new car or upgrade their used vehicles in the next twelve months.
For more figures, information, and key findings on the BCA Used Car Market Report, please visit the BCA website here.
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