Used car sales are at a two-year high for independent dealers, as demand has driven an increase in sales for the third consecutive month, according to CAP Automotive.
The most recent CAP survey of 98 used dealers found 77% reported an increase in sales over the previous month and the majority of the remainder said they had maintained ‘around the same’ numbers of retail sales.
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CAP credited factors such as PPI refund windfalls for consumers, and the focus by franchise dealers on new car sales, with improving dealer performance.
Mike Hind of CAP Automotive, said: "Although there has been no analysis to prove the overall impact of PPI refunds on the car market, commentators all over the industry are consistently citing the windfall of several thousands of pounds in numerous households as a big factor in many new and used car purchases.
"The other factor playing into the hands of good independents is the stellar performance of the new car market. This has led to franchise dealers putting all their energies into new car sales, which means they are not having to compete as hard in the trade market for good quality stock," Hind added.
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