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Auction group finds positive used cars angle
Jan 6 2009A number of dealers in the UK are finding their used cars business activity is "stepping up", according to Manheim Auctions & Remarketing.
Following a survey by the company, its managing director (MD) Mike Pilkington revealed that used cars are currently providing an "important income" for some dealers in the country.
However, the MD admitted that the last 12 months have been difficult for the car industry.
"We all know how tough 2008 has been, particularly in the second half, but we continue to sell cars in a market where there is still reasonable demand," Mr Pilkington explained.
His comments came after Manheim Auctions published research suggesting that wholesale values of used cars dropped 21 per cent during the course of the year.
Motor sector analysts EurotaxGlass's recently indicated that falling prices for used cars are set to stabilise in the near future.
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