Experian Q3 07 used car market analysis: Cars under three years old lose appeal

Sales of used cars in Britain fell by 3% during quarter three of 2007, but younger cars suffered the most, according to the latest analysis of DVLA data from Experian. This is the biggest drop in used car sales during quarter three the market has seen for eight years, and sales of cars under three years old suffered the highest loss, of 8% y/y.  

Kirk Fletcher, Managing Director of Experian’s Automotive division, said: “By the time the third quarter had begun, the base rate had already risen five times to 5.75% – its highest level since spring 2001 – so consumers were feeling the squeeze on their finances. Sales of ‘big ticket’ items, such as cars, were the most likely to suffer, and they did. The third quarter of 2007 saw the biggest drop in sales for the year so far.

“The picture in the new car market, however, was different. Although interest rate rises had affected the new car market too, by the end of the quarter, sales had increased. New cars are relatively cheaper than they used to be, but customer...

Last Update on : January 31, 2008   

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