Admittedly I’ve not been tracking used car prices for the last 8 or so years, but I’m shocked to see the asking price of some cars now a days.
I understand that quite a few people sold their car or second car during lockdown and that car parts maybe in short supply with production shutting down.
But I think that the main price raise is caused by the lack of sales of new cars during the two years of lockdown.. people didn’t drive anywhere so they are willing to hold on their cars for a further year or two, more people working for home now, so there’s less of a dependence of a reliable car.. and companies not trading in the 3 year old company cars. Could the prices return back to normal in 2/3 years?
Or is it down to Brexit? Before I joked that places like Cuba looks romantic with all the old cars but they have old cars as they don’t have trade deals and it’s far too expensive to import new cars so they have to keep the old ones running.. I’m not sure it there’s a brexit impact on the car market or if it’s even hit yet..
I understand that quite a few people sold their car or second car during lockdown and that car parts maybe in short supply with production shutting down.
But I think that the main price raise is caused by the lack of sales of new cars during the two years of lockdown.. people didn’t drive anywhere so they are willing to hold on their cars for a further year or two, more people working for home now, so there’s less of a dependence of a reliable car.. and companies not trading in the 3 year old company cars. Could the prices return back to normal in 2/3 years?
Or is it down to Brexit? Before I joked that places like Cuba looks romantic with all the old cars but they have old cars as they don’t have trade deals and it’s far too expensive to import new cars so they have to keep the old ones running.. I’m not sure it there’s a brexit impact on the car market or if it’s even hit yet..
