There has been a noticeable shift in the price of larger less fuel efficient used cars and more UK motorists opt for a small car to save cash on running costs.
EurotaxGlass (publisher of the Glass’s Guide) have reported that larger vehicle’s price tags are falling at an alarming rate as consumers wise up during the credit crunch.
Cars perceived to be the main offenders are large executive cars and larger 4x4s which have dropped by 8 per cent in just one month.
Adrian Rushmore, Managing Editor at EurotaxGlass’s said: “The current economic climate has accelerated a trend of downsizing in all but the smallest used car segments. Dealers have reported that significant numbers of customers feel crced into a change of car because their current mode of transport had become a financial drain on their incomes. Others were opting for a change because they feared that the major costs of fuel and VED [vehicle excise duty] would become a greater financial burden in the short to medium term.”
The relatively good news from the market is that during the past fortnight, buyers and sellers have become more familiar with the lower prices and this is encouraging more sales to occur.
For more information visit EurotaxGlass’s online at www.eurotaxglass.co.uk (trade), www.glass.co.uk (consumer).
August 15, 2008