Car Dealer Magazine reports that used car prices are currently stable but that increases are likely once demand returns.
Jamie Caple of independent dealer Car Quay told the publication: “I’m confident prices won’t just hold, I think they’ll go north fairly sharpish once lockdown ends.
“Of course there will be some garages looking to generate cash quickly plus some feeling the pressures of stocking facilities who’ll want to bail out but by-and-large prices will be strong.
“The last thing we need to do as an industry is panic, I think it’s going to be difficult to buy stock once lockdown is over so what’s the point everyone undercutting each other to then find out we can’t replace what we’ve just sold.
“Selling tenners for fivers and then having to pay tenners for fivers makes absolutely zero sense. Hold tight.”
Published at Tue, 05 May 2020 19:27:00 +0000