Used car sales double
Discussion
https://www.bbc.co.uk/news/business-58150025
According to this used car sales are up over 100% on the same quarter last year. Apparently due to a shortage of new cars.
How does that work? Generally a used car becomes available because someone further up the chain has bought a brand new one. Given that a lot o the cars being sold seem to be older, there is a suggestion that there are a lot of first time buyers reluctant to use public transport because of covid fears. But that would imply higher car ownership, hardly compatible with a shortage of new cars. Or is it possibly due to some people selling their cars, or at least their second car, due to increased WFH?
According to this used car sales are up over 100% on the same quarter last year. Apparently due to a shortage of new cars.
How does that work? Generally a used car becomes available because someone further up the chain has bought a brand new one. Given that a lot o the cars being sold seem to be older, there is a suggestion that there are a lot of first time buyers reluctant to use public transport because of covid fears. But that would imply higher car ownership, hardly compatible with a shortage of new cars. Or is it possibly due to some people selling their cars, or at least their second car, due to increased WFH?
Dr Jekyll said:
https://www.bbc.co.uk/news/business-58150025
According to this used car sales are up over 100% on the same quarter last year. Apparently due to a shortage of new cars.
How does that work? Generally a used car becomes available because someone further up the chain has bought a brand new one. Given that a lot o the cars being sold seem to be older, there is a suggestion that there are a lot of first time buyers reluctant to use public transport because of covid fears. But that would imply higher car ownership, hardly compatible with a shortage of new cars. Or is it possibly due to some people selling their cars, or at least their second car, due to increased WFH?
Isn't it the fact that for a lot of people COVID has meant a surging bank balance and as we start to come out of the pandemic people are starting to spend - if you are towards the top of the chain and want a new car, but are having to wait due to lack of supply, you might by nearly new instead. That will trickle down to the cheapest cars, reducing supply?According to this used car sales are up over 100% on the same quarter last year. Apparently due to a shortage of new cars.
How does that work? Generally a used car becomes available because someone further up the chain has bought a brand new one. Given that a lot o the cars being sold seem to be older, there is a suggestion that there are a lot of first time buyers reluctant to use public transport because of covid fears. But that would imply higher car ownership, hardly compatible with a shortage of new cars. Or is it possibly due to some people selling their cars, or at least their second car, due to increased WFH?
We bought a second hand Kia Sportage in April from a main dealer for £14.5k. I kept the Autotrader alerts switched on until last week and over the past couple of months I couldn't have bought an equivalent vehicle for less that £16k, probably £16.5k.
Dr Jekyll said:
https://www.bbc.co.uk/news/business-58150025
According to this used car sales are up over 100% on the same quarter last year. Apparently due to a shortage of new cars.
How does that work?
No one was buying cars this time last year because we were in lockdown! According to this used car sales are up over 100% on the same quarter last year. Apparently due to a shortage of new cars.
How does that work?
randlemarcus said:
I offloaded two of my spares, and swapped my daily for a new-to-me 15 plate, so apologies for skewing the stats 
This.People are offloading their spare and unused cars at the moment, probably a good time to do it.
The global chip shortage is still impacting new car production. This is having an effect on used car prices worldwide.
I was looking for a car between 2 and 3 years old. I started checking prices around this time last year.
When I was on the lookout to buy, the prices were the same, if not higher, after 9 months. I found one I liked, a litte over the price I thought reasonable, and I went into discussion with the bloke who owns the showroom to knock some off. In the end I got a measly £250. When I came to pick up the car a week later, the chap, who was very pleasant, almost amused, reckoned that he could have sold the car '3 time over' for the full price. Their IT bloke had been on holiday and they'd left 'my' car up for over a week on their website. One chap was willing to buy the car for the full price, sight unseen.
The bloke reckoned that the only reason he'd given into me was that he was exhausted by my arguments. Similar cars were hard to find he said.
When I was on the lookout to buy, the prices were the same, if not higher, after 9 months. I found one I liked, a litte over the price I thought reasonable, and I went into discussion with the bloke who owns the showroom to knock some off. In the end I got a measly £250. When I came to pick up the car a week later, the chap, who was very pleasant, almost amused, reckoned that he could have sold the car '3 time over' for the full price. Their IT bloke had been on holiday and they'd left 'my' car up for over a week on their website. One chap was willing to buy the car for the full price, sight unseen.
The bloke reckoned that the only reason he'd given into me was that he was exhausted by my arguments. Similar cars were hard to find he said.
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