Stevenage, Hertfordshire -- (SBWIRE) -- 03/10/2015 -- In 2008, when the recession struck, the sale of many goods including cars fell away sharply. However, recent figures released by Experian show that consumer confidence is once again growing.
Between July and September of 2014, 1.86 million used cars were sold in the UK. For the same period during 2013, the number of sales was still at pre-recession levels with only 1.82 million used cars being sold. During the second quarter of 2008, 1.92 million used vehicles were sold, so if the growth continues into 2015 sales will reach pre-recession levels.
Used car dealers in Hertfordshire and many other areas have been talking for some time about a rise in showroom footfall, but it has taken a while for that interest to translate into actual sales. Despite having more cash to spend consumers are more cautious than they once were when it comes to large acquisitions. They are spending more time on research and asking more questions before they buy. Access to finance is definitely still an issue for some who would like to buy, but it is becoming easier for people to access the finance they need to buy a new car than it was just a few years ago.
The younger the car is the more attractive it is to consumers. Most of the growth in sales has occurred in the under three year's bracket with a year on year increase in sales of 4.3%. However, for older cars the number of sales has actually tailed off. Cars aged between three and six years have actually dropped by 4.3%. For used cars of between six and nine years, the number of sales, year on year has dropped by 3.9%.
There are also some stark regional differences. In the North West sales rose by 5.8%. During the same period, sales of used cars in East Anglia dropped by 17% years on year. The reason for these stark differences between regions is not yet clear, but further analysis is being carried out by those who work in the automotive industry.
For more information visit the website http://www.poundavenuecarsales.co.uk/
First Name: Peter
Last Name: Hampton
Business Name: Pound Avenue Car Sales
Address: Letchmore Rd, Old Town
Postcode: SG1 3JB
Country: United Kingdom
Phone No.: 01438 289368