Dealers face used car stock shortage
The supply of good quality used stock aged over three years is under pressure as dealers face increasing consumer demand.
SMA Vehicle Remarketing said the problem has been caused by the shortage of stock following five years of the new car market delivering less than 2.5 million cars and the increase in demand as economic pressures force consumers to buy used rather than new.
“There is very real competition from buyers for well prepared used car stock in the current market, indeed auction process rose by 9 per cent in 2011. This trend is set to continue into 2012 as the impact of lower new car sales over recent years continues to flow through,” said Bob Anderson SMA group managing director.
“There is undoubted demand for used cars from consumers who continue to face declining levels of disposable income and as a result want to trade down in terms of the car they drive. However, consumers are very value conscious and are placing real pressure on dealers in terms of retail pricing.”
as reported in the Friday 2th February 2012