The North worst hit by fall in used car sales

News release

Contact:
Serj Heera
Press Relations Executive, Automotive & Insurance
+44 (0) 115 976 8945 Tel
serjeet.heera@uk.experian.com Email

The North worst hit by fall in used car sales
 

Nottingham, UK, 6 February 2008 - Used car dealers in the North of England have been the hardest hit by the national slowdown in used car sales.  Sales fell by six per cent during quarter three in 2007, according to the latest used car sales statistics from Experian^®, the global information services company.

This was the highest drop in sales seen by any government region in the UK during July, August and September last year (compared to the same period in 2006) and it was also the biggest fall in sales experienced by this region during quarter three in several years.  

Overall sales of used cars throughout the country fell by 3 per cent in quarter three of 2007, but cars aged up to three years old suffered the most.  However, the North saw the biggest fall in the sale of cars in this age group (down 13 per cent).

The latest used car sales statistics show an increasing shift towards used diesel cars. with sales of these cars increasing by four per cent throughout the country.  Sales of petrol cars fell by five per cent during this quarter.

However, the only region to see sales of diesels cars fall was the North (down 0.4 per cent).  It was also the region to see the biggest drop in the sale of used petrol cars (down seven per cent).

Kirk Fletcher, Managing Director of Experian’s Automotive division, said: “By the time the third quarter had begun, the base rate had already risen five times to 5.75 per cent – its highest level since spring 2001 – so consumers were feeling the squeeze on their finances.  Sales of ‘big ticket’ items, such as cars, were the most likely to suffer, and they did.  The statistics suggest that dealers in the North were struggling the most during quarter three. 

“With financial concerns continuing into the final quarter of 2007 (October, November and December), it is likely that another drop in used sales will be recorded for this region.”

Source: Experian’s Business Strategies division and DVLA

Source: Experian’s Business Strategies division and DVLA

Source: Experian’s Business Strategies division and DVLA

Source: Experian’s Business Strategies division and DVLA

ENDS

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