Used car market moves billions in car sales in January
The pre-owned market is gaining from losses in the new car sector
It’s no secret that the new car market is struggling when it comes to unit sales. However, the used car market moved R10.2bn in car sales in January. Two factors indicate that the used car market is recovering:
A negative trend in the volume of used car listings has turned around to being flat in January 2020. This is a good proxy for market supply. The number of sales has accelerated from a six-month average of 7% to almost 11% in January 2020 versus January 2019. This is a good lagging indicator of consumer demand...