Used car sales booming - really???

[A993LAD]

Just seen this video which features Mike Brewer

https://www.youtube.com/watch?time_continue=98&amp...


Basically a motor trade video, but they are claiming that used car sales are outstripping new car sales by 15 to 1 and that dealers are snapping up any used cars because they are running out of stock?

Is this really true or just puff?

I don't know anyone that has recently bought or is planning to buy another car.

[vikingaero]

I would agree.

Last year I bought my Mum a car from Car Giant (FWIW I like the place) and they had nearly 4,000 cars in stock. Now they have 2756. Maybe they're scaling back to keep cash in the bank but some models have been stripped. For example, when i was dithering over a new or used Passat Estate, they always had 10-12 in stock. Now every one of them has been sold since Covid and not replaced.

[texaxile]

Yep, I have to agree as well.

pre covid I was hunting for a C Class C250 Coupe, plenty to choose from and some decent well maintained examples. Started looking again this week, they seem to have dried up a bit, plus the prices slightly higher. Same seems to go for the other models in the range, even the petrols.

[mike74]

There's already a near 400 page thread on here and the consensus from traders on there is that things are currently booming with demand outstripping supply, as much as I'm disinclined to believe anything a pointy shoe, shiny suited, spiv used car salesman/debt pusher has to say I can believe that things are currently booming.

Pent up demand, lockdown boredom, pandemic YOLO effect and Sunak spunking free money all over anyone and everyone means it does make sense that in the short term at least there will be plentiful demand.

[cayman-black]

Right anyone thinking they would get a bargain during these times is unlucky i fear. I have been following CC auction and the prices achieved have been remarkable.

[Bagzie88]

Unless you want to part exchange and buy new?

[Jamescrs]

Got a car on eBay classifieds so I'm hoping there is big demand and when dealers get back to work tomorrow morning I get a few calls, listed it yesterday afternoon, no enquiries so far.

2011 Volvo V60 T4 if anyone wants one?

[slk 32]

Was interested in getting a price for my car from webuyanycar last week.

Ignored the quote and two days later tgey came back with an offer over 10% higher

That would suggest they either lowball initially or that they are running low on stock

[mike74]

cayman-black said:

Right anyone thinking they would get a bargain during these times is unlucky i fear. I have been following CC auction and the prices achieved have been remarkable.

I do agree with that but don't forget the impact of job losses, recession, restricted lending hasn't even begun to be felt in ''these'' times.

[Hub]

Yep, I had an email from the dealer that services my car asking to buy it!

[vikingaero]

There will always be a churn from written off cars and end of lease renewals. Maybe people don't want to be tied to a 2-3 year lease/PCP with uncertainty and working from home and are therefore considering outright purchase or with a low rate bank loan.

[TooLateForAName]

There hasn't been a big economic hit to individuals yet.

There have been loans, furlough schemes etc propping up individuals.

I suspect that as the econimic impact really starts to bite then things will change quite dramatically.

[riskyj]

slk 32 said:

Was interested in getting a price for my car from webuyanycar last week.

Ignored the quote and two days later tgey came back with an offer over 10% higher

That would suggest they either lowball initially or that they are running low on stock

Same here! But as you say, not sure if it was desperation for stock or initial low ball.

[Zetec-S]

I know someone who works for a main dealer and he says the problem is they are struggling to get enough stock in. They also said the demand for performance versions has soared as people realise they can work from home so much more, so mpg is less of a consideration.

[syl]

Bagzie88 said:

Unless you want to part exchange and buy new?

If what he says is true there should be some fantastic new car deals and lease offers together with great trade-in and WBAC prices.

Unfortunately I doubt the reality will match up with the theory.

[A1VDY]

Agree. I can't get enough stock, I sold five used cars last week.
Have also had requests for a small van and estate car which I'm now trying to obtain.
Demand really is outstripping supply..

[bearman68]

I agree that there is nothing out there to buy at the moment. Just as an example, saved ebay searches normally throw up 15 pages of results. These days, lucky to get to 4. And it's better now than it has been for a while. A month ago, it was only 2 pages.
I know that's hardly a definitive measure, but it does provide some indication. And I operate in the <£1500 cat. Sheds one and all, and I cannot one by me at all. I sold my own personal car at the start of this month, just to keep a customer happy.

[Auto810graphy]

mike74 said:

There's already a near 400 page thread on here and the consensus from traders on there is that things are currently booming with demand outstripping supply, as much as I'm disinclined to believe anything a pointy shoe, shiny suited, spiv used car salesman/debt pusher has to say I can believe that things are currently booming.

A clap for this man! Four posts in and name calling......

[rigga]

No one wants to go back to public transport, so many see driving a car to work again as a positive ......

Train and bus operations will see a huge drop in revenue.

[Shuvi McTupya]

I just put my car details into WBAC and they offered less than half the blue book value (2010 Subaru Outback) .

I am not sure if that is any worse than normal though?