New Car Prices Down While Used Car Prices UpNovember 8th, 2008 • 3 Comments
The current state of the economy is affecting the motor vehicle market in an interesting way; new car prices are going down, and used car prices are predicted to go up.
As the demand for used cars is increasing, motorists who still want a good deal on a used car should move quickly to get the best price.
A summary of a recent study by Sainsbury’s Finance based on current trends had 3 key points:
1. Buyers are expected to spend 12% more on used cars over the winter than they did in the summer.
2. More than 5.1 million people plan on buying a used car in the next four months.
3. Consumers purchasing used vehicles over the next four months are expected to pay an average of £5,005 per vehicle.
The Society of Motor Manufacturers and Traders (SMMT) reports that new car sales in the UK fell 21.2% in September. Since September sales account for about 17% of annual sales totals, these declines are a cause of concern for the automotive market that consumers should keep their eye on.
interesting article but think the picture and caption is unprofessional, you’ve made the cowboy car salesman to be a foreigner for no good reason.
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