Used Car Market – Better Sales Results
Recent market surveys show that there are finally some signs of the awaited improvement in the used car market. Overall sales data delivered over the last few weeks and months by used cars dealers as well as car supermarkets depict a trend of higher used car sales volumes; reflected in rising wholesale prices and a rising number of resold cars. Also, some sort of the economic revival in the used car market is also confirmed by the formal sales indicators. The Manheim Used Vehicle Value Index measuring prices adjusted for mix, mileage and seasonality, for example, stands now at a value of 109.1, which is greater than the one recorded in the past (compared even to just March only). One of reasons for rising used car prices and more vivid activity in the market can be the issue of the coming shortage of late model used vehicles that should positively impact used vehicle values within two years. This fact shows also some truth about used cars in general – their reliability and life expectancy of their spare parts are rated apparently somewhat higher than in the past. Additionally, the ubiquitous CPO programs offered by many car producers across the motor industry create a sort of stimulus, which has some impact on the fashion used cars are perceived as being.