Independent used car retailers are more confident now, indeed, according to the CAP Automotive, there is more high quality stock around a better balance between supply and demand.
The CAP questions monthly a Dealer Insight Panel of 100 independent used car retailers.
At the beginning of 2014 there was a shortage of high quality stock, which caused prices to rise.
CAP communications manager Mike Hind said: “Although used car retail sales have been good for independent dealers this year, profitability was proving a real challenge because of the increase in wholesale values caused by strong competition for the best quality stock.”
We can also notice that now they appear to have come to terms with the higher prices and are once again enjoying the fact that retail demand is keeping the metal moving.
Moreover the survey figures reveal that many more dealers have been holding off on stock purchase than were doing so at this point last year.
“This is no doubt due to expectations that the March plate change would bring in a fresh influx of high quality part-exchange vehicles which would ease the supply side and possibly lead to lower trade values” said Mike Hind.