The experience of used car sellers in the UK during 2008 has been mixed, according to new research.
A study by Manheim Retail Services found more than two-thirds of dealers had seen a drop in sales – with the majority reporting a fall in trade of over ten per cent.
However, near a quarter of businesses said the number of successful deals had remained consistent with those made in 2007 – with a further 12 per cent recording an increase in sales.
When it came to purchasing new stock, more than half of those questioned said they had cut the number of cars they were buying.
In contrast, 20 per cent admitted they had increased orders for new vehicles and a quarter stated their buying habits had not changed.
John Simpson, managing director of Manheim Retail Services, explained: "Many are doing what seems natural in hard times and cutting back where they can and yet others are taking a more aggressive stance."
In related motoring news, the same organisation recently showed the average wholesale selling price for a used car fell by 1.6 per cent last month, compared with October.
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