With there being over 30 million cars on British roads you’d think there wouldn’t be a shortage of used cars for motorists to snap up, but according to new trends it looks like there’s going to be a major shortage in coming years.
Carsite.co.uk who make the claim sight poor sales in new cars due to the recession as the reason behind projected trend. Alistair Jeff from the website explains: ‘This could be on the scale of a 20 percent reduction come September 2011 – with a further 20 percent fall predicted for March 2012!’
He added: ‘Some used models have experienced significant increase in value over the last 12 months and the reduced supply from 2011 to 2012 should strengthen residual performances but potentially trigger further price increases. With scrappage gone, the focus is back on the used car market.’
The biggest after affect will be, as anyone who knows the slightest about economics will know, that as supply falls and demand stays the same, prices for a used car will undoubtedly go up.