Used car sales between July – September fell by almost 3% (2.9) compared to 2010 according to Experian.
Just 1,749,417 cars were sold with the ‘Luxury’ sector taking the biggest hit. Highly prestigious ‘supercars’ are still holding value but the more expensive day-to-day cars have become hard hit.
Alternatively fueled cars, including electric, have seen large rises as people look to make savings as living costs spiral. It is important to note however that these car sales have risen from a relatively small base and 2012-2013 should see these numbers become more settled.
According to the AA, cars valued over £32,000 doing less than 5,000 miles per year have a running cost of over £2.30 per mile compared with 29.8p per mile for a small family car doing more than 30,000 miles per year.