As new car sales see as sharp drop off in their numbers, used vehicle auctioneers are having a better time of it any have been announcing growing volumes of used cars coming through their doors.

The new car market is clearly not in a good way. Production is down at all the major car manufacturers and lay offs have been announced across the board. The luxury car market has also been hit, with Bentley announcing job losses last month. Official figures show a 30.9% fall in new car registrations in January as compared to the previous year according to the Society of Motor Manufactures. 1974 was the last time there was a fall of this scale and there looks to be continuation of this trend in the new future. 3 years is the predicted length for the slump in car sales according to many industry analysts.

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