In a recent market study conducted by Peter Campbell, one of UK’s most prominent motor industry correspondents, it was revealed that growing consumer confidence and flexible finance options have boosted car sales growth like ever before. The report written by Peter and published in the Financial Times only recently shows that around 518,000 new cars were registered in March alone. As it stands, the number of new car registrations recorded this month is the second highest in the history of the automobile market in the country. The used car market, or the ‘Buy My Car’ market as it is popularly termed, is also growing in tandem, reports reveal.
Market trends suggest that online used car sales adverts have increased in numbers remarkably over the past few months.
Mike Hawes, chief executive of Society of Motor Manufacturers and Traders, was quoted by the Financial Times saying, “Economic confidence is the biggest driving force” He also said that many buyers think that £30,000 for a car is beyond their availability. But the car dealers actually split the price into smallest EMIs so that buyers don’t feel that they are paying exorbitantly high for driving home a new automobile. He also revealed that one in every six new cars sold in the country is an SUV or a crossover, though ‘superminis’ still dominate the market.
Keeping with the pace of the new automobile market, the used car market has also gone through unprecedented growth in recent times. Only a week ago, a Kia Sportage SUV was sold by the first user online, Chronicle Live reported.
“There are actually a couple of factors at work that has boosted the used car sales market. First of all, the UK automobile industry has finally been able to come out of the emissions scandal. Now, sellers seem interested in listing their cars in the online network of car buyers and they do not just see listing cars on a single website as a wise thing to do,” said a co-owner of Dealerbid.co.uk, a ‘Buy My Car’ sales portal that was launched in 2008. “People feel safe to list their cars when there is no middleman in between the buyers and them,” he added..
About the Company
Dealerbid.co.uk is an online portal that connects car sellers in the UK with buyer networks.
To know more, visit https://www.dealerbid.co.uk/
Company Name: Dealerbid.co.uk
Phone: 0845 2279088
Country: United Kingdom