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12th April 2020, 11:11 | #1 |
This is my second home
Rover 75 Tourer/ MG ZT-T 400 Join Date: May 2012
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Used car prices set to rise !!!
Just come across this and it’s the opposite of what I thought would happen
https://www.honestjohn.co.uk/news/co...ar-production/ |
12th April 2020, 11:14 | #2 |
Coolguy
Rover 75 CDT Tourer Auto, Rover 75 2.0 Connoisseur Auto, MG ZT 2.5 Auto and MG ZT Cdti Auto (Monogra Join Date: Nov 2009
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With new car registrations falling, there will be a reduction of second-hand cars available, and as older cars wear out (not ours of course) folk will be looking for replacements from a smaller quantity available. Hence prices rise, as with any shortage.
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12th April 2020, 11:59 | #3 |
Gets stuck in
Ex CDT Auto Join Date: Oct 2017
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I'd previously have thought the opposite to be honest, with dealers unable to shift their stocks of second hand cars because no one is venturing out won't there be a surplus with desperate businesses needing cashflow to stay afloat.
Also won't private sellers be anxious to get rid of the unwanted car on their drive that will have been sitting there for months unable to be viewed or sold? |
12th April 2020, 12:01 | #4 |
Discount MG Rover Spares
Rover 75 CDTi, 2x MG ZS180 Join Date: Jun 2011
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There's a lot of factors, personally I believe they'll mostly balance each other out, meaning we still have a very similar used market as today.
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12th April 2020, 12:27 | #5 |
I really should get out more.......
MG ZT-T 260 Join Date: Feb 2016
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Friends who are in the used car trade are reckoning on a used car boom until manufacturers catch up, one was telling me approx. 40k new cars are sold in the UK every week.
With probably a lot of cars going to scrap as soon as the MOT extension is lifted where are there replacements going to come from? I can see our shores being flooded with new cheap stock and our factories on overtime for a while trying to catch up. A friend who had ordered a new van before this all started has been told there is no forecast on its delivery date and the dealer reckons that means more than 20 weeks. He is already looking for a good used one as his needs a lot of work. Maybe we will end up paying the higher prices Europeans pay for used cars? I know a colleague who worked in Sweden for a few months was shocked what 8 year old cars fetch. He reckoned they were more than twice what we pay. |
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