Report: Used Car Prices in United Kingdom Highest In Europe

Automobile

According to the reports, the prices of used cars in the United Kingdom have been increased by 28 percent in the first 11 months of the year 2021 that has been more than any of the other country in the continent of Europe.

The specialists of the used vehicle pricing said that, the stock levels of the used cars have been decreased by 17 percent in the year 2021 as the purchasers of the cars have been switching their attention to the used cars because of the continuous supply of the new car constraints that has been caused by the crisis of semiconductors across the globe.

It means that, the demand of the used cars has been outstripping the supply, and the used car sales have been increased by 13.7 percent in the month of November 2021 as compared with the month of November 2020, but the levels of the stock has only been increased by 3.1 percent that is explaining why the prices have remained high.

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John Mitchell, sales director of Indicata group said, the current trend in the market of the demand that has been exceeding the supply has been looking all set for continuing into the beginning of the year 2022, and both retail wholesale markets have been getting used to the prices at the level, which is being to the new normal.

He also said, the levels of the stock has been showing no sign of the improvement that has been guaranteeing the prices will be remained strong.

Sandy

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