The UK’s used car market declined by -8.3% in the first quarter of 2020, said the Society of Motor Manufacturers and Traders. Growth in January and February, up 2.9% and 4.0% respectively, was wiped out by a -30.7% fall in March, making it the lowest March on record as coronavirus measures that came into effect and closed retailers. Demand for … [Read more...]
Used car market is becoming saturated, says Glass’s
The used car market is starting to reach the long-predicted tipping point into oversupply with values coming under pressure as a result, reports Glass's. Rupert Pontin, Head of Valuations, said that the volume of vehicles at auction had already increased by 3.7% in 2016 and that a wide range of models were starting to fall in value as a result. "We … [Read more...]
