Used car price shock
June 11th, 2009 by Richard Aucock
USED car prices of key buyer favourites are varying dramatically across the UK, report new findings.
Used Car Expert says this is because of car dealers’ struggles to remain profitable and in business.
The guide says that car dealers in less affluent regions of the UK are having to adjust prices to suit their region – with eye-opening effect.
Examples of big variations include:
• 2007 Ford Fiesta: In Wales, it is £2200 cheaper than the national average
• 2007 Ford Focus: In the West Midlands, it is £1600 below the national average
• 2007 Ford Focus: In Scotland, it is £1700 below the national average
This situation is made worse by the scrappage scheme: car dealers are having to price car more keenly, to tempt drivers away from the lure of a £2000 new car discount.
Matthew Tumbridge, editor of Used Car Expert, said that ‘With new car sales down 25 percent compared to last year, retailers are looking to bolster their bottom line with the sale of used cars.’
Motorists are now looking for even greater value for money when buying a car and, combined with the added competition from the scrappage scheme to attract buyers, the UK’s best selling models are being sold for far less than they are worth for retailers to stay in business.
‘This is clearly not sustainable in the current conditions,’ he warned.
Tags: prices, used car expert
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