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Cap sounds 'grey' alarm

Low part-exchange valuations by dealers are pushing the grey market close to crisis, says trade guide Cap Grey Book. The market for grey imports from Asia has, at around five years old, reached maturity with many cars now being offered to dealers as part-exchanges. But dealers, who view the market with suspicion, are helping to contribute to an uncertain future for greys by shunning cars or offering low quotes. Robert Hester, Grey Book editor, said: “The problem is that everyone wants a cheap car so any offers made to the owner tend to be low. “In some cases UK dealers don't know what the car is really worth, so the thinking is that if they have to own it, it needs to be cheap.”

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