Decline in used imports 'keeping prices high' on forecourts
THE sharp decline in the level of used imports is creating an acute shortage of good secondhand vehicles, an expert warns.
Used imports have helped keep a reasonable choice and supply of second-hand stock for some time.
But now with sterling so strong against the euro, the numbers coming in have fallen significantly.
And according to Motorcheck.ie managing director Michael Rochford that is keeping prices high on our forecourts.
Used-import registrations were down 27pc in May and 12.6pc so far this year.
He says: "This trend continues to compound the stock shortage in the used-car market as demand still far exceeds supply in this sector. Used car prices remain high and bargains are hard to find."
He says that stock shortages represent a "worrying trend" because they reduce the level of choice for potential buyers.
And that, he says, means it is cutting down on the value for the used-car buyer.
He warns: "When this happens people feel under pressure to complete sales." He is, understandably, urging buyers to make sure they get any potential purchase thoroughly checked out before parting with their money.