Used sales DOWN in 2010
June 29th, 2010 by Richard Aucock
USED car sales fell 7.6 percent in Q1 2010 reports Experian, with upper medium sales leading the decline.
They were down a hefty 12.2 percent, with MPV sales next in line with a 10.6 percent decline.
Experian Automotive head of sales Mark Wilkinson said a decline in new car sales during 2009 means the industry is set to remain challenged, too.
‘With 2009 seeing some of the lowest sales volumes of the last 10 years, and with the scrappage discount incentive at an end, a smaller supply of younger, good quality stock will be available for the second-hand market.
‘Retailers are likely to be reviewing stock profile more than ever.
‘This means that they will be looking to maximise profitability from the stock available and that managing risk and avoiding vehicles with a chequered history will become a top priority.’
It wasn’t all doom and gloom, though. Q1 2010 used sales were up 14.8 percent compared to Q4 2009. Here, MPV sales actually rocketed, with a 27.3 percent rise.
However, the only car sector to avoid a year on year decline was, perhaps unsurprisingly, the mini car sector.