Car insurance: Used car sales defy credit crunch

Monday, 01 September 2008

The number of used car owners looking for car insurance is likely to remain steady, if the findings of a new survey are anything to go by.

The poll of 100 dealers across the UK carried out by Manheim Retail Services has found little change in the number of enquiries received in relation to the full range of vehicles available, compared to the previous three months.

Where executive models were concerned sales to enquiry rates were shown to have dropped by 8.3 per cent, while there was a dip of 7.6 per cent for 4x4s.

However, for medium family vehicles the rate had increased by 0.9 per cent.

Commenting on the results, managing director at Manheim Retail Services John Simpson said: "With negative consumer confidence forcing new car registrations down in July by 13 per cent, it is encouraging to see that dealers are maintaining activity in used car sales."

He claimed used car sales were down on average by less than one unit per dealer per month.

Elsewhere, the RAC has said that being able to use a car provides older people with important freedom, flexibility and convenience.

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