Sales of used luxury cars on the decline

Sales of used luxury cars on the decline

Another portion of the automotive industry affected by the economic downturn is the marketplace for second hand luxury cars, recently released figures show.

According to figures published by used car search engine Adzuna.co.uk, the average price of second hand luxury cars, from manufacturers including Bentley, Rolls Royce, Jaguar and Aston Martin, has fallen by 10% in the last month. Adzuna has said that in the UK, the overall average price of a second hand vehicle has fallen by 1.5% during the past three months. The average used car in the UK now goes for £8,942.

A huge geographical divide has opened up regarding the prices of used cars, with prices varying greatly in different regions of the UK, according to Adzuna. If you were located in Cambridge or Reading, you would be seeing the highest prices around for used cars, where average prices for second hand vehicles have regularly exceeded £12,500 over the last six months. However, those located in South West England or Wales would be seeing prices for used cars around £300 less than in other regions of the UK.

Prices for used cars have been falling throughout the UK, with second hand vehicle prices in Scotland declining by 8% alone this year. However, the largest declines in prices over the last six months have been found around the Bristol, Swansea, Plymouth and Cardiff areas. In these regions, the average price of a used car is up to 10% less than the national average, at around £7,744.

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