The latest car sale statistics show that the UK used car industry is continuing to grow. Many in the sector expect that recovery to continue during 2015.
Wellingborough, Northamptonshire -- (SBWIRE) -- 04/24/2015 -- Sales of used cars have been growing steadily for five years. According to the BCA Used Car Market Report, this growth is a result of several improving financial factors. Low inflation, growing employment rates and rising house prices all played a role in improving consumer confidence and helping them to find the cash to invest in a used car.
The fact that the economic situation of UK homeowners is continuing to improve is leading many in the sector to believe that this growth will continue throughout 2015. Changes in the pension laws are also expected to give the used car sector a boost now that people now have the right to take cash out of their pension pot. They are expected to do so in large numbers and a large percentage of those people are expected to use that cash to buy a car.
Despite the fact that UK consumers have more money available it is expected that their decision of which car to buy will still be mainly driven by price. When asked what influences where they buy and what they buy 58% of consumers said that price was still the main driver for them.
The same survey showed that many consumers will travel to buy the car they want at the right price. Only 21% said that how far they had to travel to test drive the car was a factor in where they bought their used car.
When it comes to used cars Northampton is seen as a good place to buy. Dealers in the area benefit from easy access to a good stock of used cars that are available from the large auction firm that is based in the town. There are plenty of bargains to be had in the area, so Northampton car dealers are some of the busiest in the country.
Low-income car drivers are more focused on price than those from higher income brackets are. Those in the higher income bracket focus more on the brand and brand perception than they do on price, but the main driver behind increasing used car sales will be the availability of enough affordable vehicles. Provided there is sufficient availability, sales of used cars in 2015 are likely to reach record levels.
For more information visit the website http://www.centralgarageford.co.uk/
For Media Contact:
First Name: Tony
Last Name: Cooper
Business Name: Central Garage Irthlingborough Ltd
Address: 76 Station Road, Irthlingborough
Postcode: NN9 5QE
Country: United Kingdom
Phone No.: 01933 650313