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Are we seeing demand improving for used cars?

Car dealership Lookers has today given the car sales industry something of a pickup with news that greater demand for used cars has been experienced over the last few weeks. This, when set-aside the turmoil in the car manufacturing sector, would appear to give secondhand car sales businesses some hope that demand may well be slowly filtering back into the sector.

However, it is also worth considering the fact that used car prices have fallen substantially over the last few years and profit margins are not what they used to be. Even though profit margins may have fallen this potential increase in demand for secondhand cars could literally save many car sales companies from going out of business in the short to medium term.

While normally you would expect that difficulties in the car manufacturing industry would see interest for used cars increase dramatically it is also worth pointing out that there are literally thousands upon thousands of new cars which remain unsold and ready to go at knockdown prices. The move to reduce the price of new cars, if the UK government fails to come up with a rescue plan, could see the price of used cars fall further which could in turn stimulate more demand.

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