Since December, the second hand sales of cars that are 1-5 years old has fallen a staggering 12% according to a recent BCA Pulse report.
Statistics show a decline from an average £23,075 sale of each ‘nearly new’ car in December to £20,208 in March of 2015. As well as this, BCA reports show that the average value of used car sales in regards to used car auctions has also fallen by 3.7% in March compared to February, so does this mean that we can expect a massive crash in the market of almost new cars?
Well, not really; Simon Henstock, BCA’s UK operations director said: “Despite volumes continuing to rise in the wholesale sector, demand was steady across the range of stock on offer at BCA in March.
In other words, the variation of sales techniques by car dealerships over the UK has a lot to play in the impact of sales, and statistics tend to disregard this – “we saw greater volumes from dealer part-exchange sources and this shift in the model mix impacted the headline value.” Henstock continued to add.
It is important to note just how much the time of year can play an important role in changing the market; the Easter holidays and lead up to the General election may have more of an impact on the sales of cars than we may think, according to Henstock, “this could cause some uncertainty in the market”.
On the whole, the average dealership part-exchange values have finally risen by 3.5% after a 3 month decline, and year-on-year values have risen by 7.1%, so perhaps it’s not all doom and gloom for the sales of used cars throughout the UK.