An HJ news item says '100% of Fords sold in Ford auction'.
As it was a closed sale, then no massive surprise there. Whistling in the dark perhaps?
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All the cars reached their reserve and actually sold - that's the tone of the report. Shows that there is a shortage of motors for the second hand trade.
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Large dealership near here has recently erected a banner outside their premises reading " Cars bought for cash " Could just be a clever method of getting footfall I suppose but maybe they genuinely need stock.
Strange times indeed.......
Edited by Humph Backbridge on 08/03/2009 at 19:36
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There is a shortage of nearly new cars, fewer folk buying new cars means fewer part exchanges and recent cars on the second hand market, more folk would normally have bought a new car trying to be economical and get a nearly new car instead, all conspires to make good nearly new cars in short supply
This is not a sign of a good economy, don't kid yourselves
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Or maybe reserves were set low as cash was desparately needed.
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Or maybe reserves were set low as cash was desparately needed. >>
Or as HJ keeps saying
"Another emerging factor in the shortage of used stock is the export of used cars to the Irish Republic and even to some left hand drive eastern European markets, sparked by the weakness of sterling."
see: www.honestjohn.co.uk/news/item.htm?id=5818
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Thank you, jbif. Of course the news item was a PR release .. >>
Apologies HJ. Can I assume that the auction reports are credited to yourself? If so, then this "news item" also states a similar trend:
www.honestjohn.co.uk/news/item.htm?id=5772
"Prices Through The Roof at Auction Today
Fri, 20 Feb 2009 15:28
The weak Pound is driving auction prices of used RHD exports steadily skywards. Especially of diesels for Ireland. So what we are seeing bears very little relationship to UK demand for used cars.
... etc. etc. "
And IIRC, HJ has mentioned the same trend in discussions in the Credit-Crunch threads.
So I hope I was not too much out of order.
Edited by jbif on 08/03/2009 at 23:06
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The first registered keeper of my Focus was an employee of Ford Motor Company, and the car was bought at one of these auctions by my local Ford dealer. I just told the dealer what model, variant, and colour I wanted and they got one within days. They charged me £1000 under book price and I was well pleased.
Edited by L'escargot on 09/03/2009 at 07:49
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