Used car sales show hint of recovery
6 July 2009 By MoneyhighStreet Staff Leave a Comment
The recession has hit car sales hard but there may be a hint of recovery as the latest used car sales figures, whilst still showing a year on year drop, are up on the previous quarter.
The latest used car sales figures from Experian show that although in Q1 2009 there was a drop in sales compared to Q1 2008, there was a 17% increase in sales compared to the previous quarter, Q4 2008.
This rise in used car sales between the end of year and start of year quarters was the largest seen since 2003/4 – giving a hint of recovery.
In particular MPV (multi-purpose vehicle) sales rose significantly.
Kirk Fletcher, Managang Director of Experian’s Business Information and Automotive businesses, said ‘There have been a high number of MPV’s launched over the last few years, including the Ford C Max and S Max, Mercedes-Benz B and R classes and Toyota’s Verso range, and this innovation is helping to drive the popularity of this type of vehicle.’
All used car makes saw rises between Q4 2008 and Q1 2009, with the biggest increases from Citroen, Renault and Nissan.
With the car scrappage scheme in place there is also some movement on buying new cars.
If you are thinking of buying a new car, MoneyHighStreet recently did a review of the car scrappage scheme, which you might find useful.
