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Recession Changes Car-buying Habits

Eddie Wright Latest News

Paul Wright, Director

22 July 2011

Economic hard times are having a noticeable impact on car-buying habits in the North Lincolnshire and South Yorkshire area, according Eddie Wright director Paul Wright.

Hard-pressed motorists are keeping their costs down by opting for older or higher mileage vehicles.

In a mid-year review of the market, Paul said: "With many households feeling the pinch . . . not least because of high fuel prices and soaring motor insurance premiums . . . car buyers are really shopping around for the best deals and looking to save money."

"Local demand for nearly new cars, that's 1-3 year old vehicles, has fallen quite markedly, whereas demand for 4-10 year old cars is growing strongly, provided they are desirable models and in good condition."

"We've reacted to demand by increasing our choice of vehicles in the £5,000 - £7,000 bracket, as well as continuing to stock a large range of top-end, nearly-new, vehicles that attract buyers from all over the country."

Paul added: "Condition is the key because, if they are well cared for, modern vehicles are more reliable, last longer and go further. In the old days we would not have considered selling a car with more than 70,000 on the clock but 85,000 or 90,000 hardly rates as high mileage these days . . . I've seen diesels with 200,000 – 300,000 on the clock and they are still going strong!"

"The longer lifespan of cars is down to a combination of factors including modern engine technology, new oils, better bodywork and the fact that we do so much of our driving on motorways."

Further information or comment please contact
Bruce Hewitt or Jane Wright at Eddie Wright on 01724-270755