The head of a UK motor auction company has warned of a potential price rise in used cars this September.
Alex Wright, managing director of Shoreham Vehicle Auctions, said while supply and demand are both quite low at present, the traditional September uplift in demand from used car traders could mean a shortage of vehicles and rising prices.
Wright said there is still healthy demand for good quality older stock, from reliable sources with a good service history, lower mileage and little damage.
But with franchised dealers increasingly putting some of their own best quality part-exchanges onto their forecourts, it will pose a question to dealership management whether to retail or trade it out.