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Buyers cash out of 4x4s
21 October 2008
Auto Trader has revealed that adverts for private cars have increased by 6 per cent in the year to September, with the rising demand attributed to sellers wanting to sell old cars to trade into cleaner and more economical models.
September and October have both seen swelling demand for private adverts, especially for the least efficient cars. Trader Media says that it is currently listing nearly 11,000 Land Rover models for sale.
A recent survey carried out by Glass’s Guide said that 38 per cent of car buyers are looking to move into a smaller and more efficient car the next time they change vehicles.
Anecdotal evidence from inside the motor trade suggests that the spiralling values of larger cars is having the effect of persuading owners of similar vehicles to try and realise the value of their vehicles before prices fall further, bringing more unpopular models to market.
The used market is also being further depressed by families selling second cars in the face of rising motoring costs.
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