Car Insurance News
Used car sales boost automotive recovery
3 September 2010
The sale of used cars has played a pivotal role in helping the automotive sector to recover, it has been claimed.
A recent research published by British Car Auctions (BCA) showed that despite a fall in the actual number of cars sold, the growth in the used car segment had been buoyed by second-hand vehicles maintaining their prices.
Further to this, there was also an increase in demand for used cars as most consumers found it difficult to afford brand new vehicles after the advent of the global recession.
The popularity of this sector has also increased significantly owing to its ability to cater to a wide-variety of customers, commented Tony Gannon, communications director at BCA.
He added: "It is this ability to provide a broad range of products at every price point, with a good choice of 'value adds' such as warranties and servicing packages, that we believe sustained this crucial revenue stream in 2009."
Meanwhile, those interested in classic cars should keep an eye out for an upcoming BCA sale that will feature a vintage Royal Mail Morris Minor.
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