While sales of both used and new vehicles remained buoyant last year and into 2019, this doesn’t mean that there won’t be some kind of correction in the economy influenced by factors such as the uncertainty regarding Brexit. Let’s look at some trends to be aware of.
Flat expectations
Analysts are expecting that sales of used vehicles may be a bit flat in 2019. Used vehicles sales have been on an upward trend since 2013; however, pundits expect this to plateau, although sales will still be quite strong. In some sectors, used vehicles are seen as a better bet businesswise. Last year, the largest dealership in the UK turned its focus to the used car market as a way of maximizing profits.
Price pivots
One of the perennial attractions of the used vehicle is the price compared with a new vehicle. Some analysts wonder how affordable new cars can continue to be, which will boost the market for used vehicles. It is likely that the extra solvency derived from tax reform and bigger returns may be coming to an end, which will reduce cash flow and have more buyers turning to used vehicles.
Several hundred thousand leased vehicles may be coming to the end of their contracts this year, which will increase the choice in the used vehicle market. Whether these vehicles will be absorbed by the market or perhaps increase supply to the point where prices are pushed down remains to be seen.
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There are definitely excellent bargains to be had for the buyer prepared to devote some shopping time to the used car market. Used vehicles benefit from so many excellent design features that even cars that are a few years old have more gadgets than the average motorist or driver would ever need.
When it comes to commercial vehicles, values of durability and design to maximize space for transporting goods are not subject to the fluctuations of style or fashion.
