“Based on pricing analysis of circa 900,000 vehicles every month, over the last 10 weeks we’ve observed a market that has largely been on hold.
“The number of car retailers making price changes, the number of vehicles being repriced, and the value of price adjustment all being significantly lower then what we would normally see.
“During the 2008/09 financial crisis, large price adjustments on a mass scale had a major detrimental impact on the financial health of the industry, so it’s reassuring to see that retailers haven’t been tempted to cut prices.”
Analysis from other European countries has shown demand for used cars increased as lockdown restrictions were eased.
Published at Sun, 07 Jun 2020 05:01:00 +0000