8:24 am, September 18, 2013
FOLLOWING BCA’s latest Report, we came across some interesting points.
Here you can read BCA’s Top Facts on the 2012 used car market:
1) The ratio of used car sales to new car sales increased for the third year running to 3.5:1 in 2012
2) Sales of new to two year-old cars rose by 18.6 per cent in 2012, increasing their share of the used car market up to 10.7 per cent
3) Sales of cars in the three to five year age group also grew by 6.1 per cent
4) Sales of six to eight year-old cars rose for a fifth consecutive year
5) Sales of vehicles of over nine years old remained flat
6) Hatchbacks increased in popularity with four per cent more car owners choosing this option
7) Saloons saw their market share drop by a similar amount to 22 per cent
8)MPVs’ share of the used car market slipped to seven per cent from 10 per cent a year earlier
9)Diesel cars’ share of the used car market rose three per cent to 36 per cent – a level last seen in 2010, as growing numbers of diesels entered the used car supply chain
10) Three quarters of motorists bought a used car rather than new in the past two years with 22 per cent of motorists viewing used cars as offering better value for money than new
11) Low or zero per cent finance would tempt 17 per cent of potential car buyers to “certainly” consider a new car instead of used
12) 23 per cent said it was “quite likely” they would give buying a new car some thought.
13) There was a rise in the number of car owners who said they will “certainly” or “quite likely” buy a car in the next 12 months – up four per cent to 14 per cent year on year
14) Only one in 10 respondents said they would “buy the same type car again”, a 50 per cent drop over the past three years
16) Four out of five respondents said they had already taken steps to cut their car running costs by keeping tyres at the right pressure, driving more slowly, avoiding heavy braking, accelerating less quickly and having a more fuel efficient car at the forefront of measures adopted
17) Nearly two thirds (64 per cent) of motorists cited price as the key influence followed by brand (39 per cent) and then model (37 per cent)
