Used Car Dealers South Africa

Used Car Dealers in South Africa are beginning to show signs of recovery from the very long recession. 
One major Car Dealer chain reported that  they sold a record total of second-hand units in year to July 27, 2009..
It retailed 44 824 used vehicles in the year to June, which was 6.4 percent higher than the previous year. New vehicle sales dropped by 31.6 percent to 30 290 units in the same 12-month period, which was much in line with the declining new sales experienced in the overall South African Car Market.
There are signs that the Used Cars South Africa is moving out of the doldrums. There are clear indications that prices for good quality used cars were beginning to firm.
This performance was in stark contrast to the new vehicle market, where total sales reported to the National Association of Automobile Manufacturers of SA in the first half of this year came in at 190 245 vehicles, almost 34 percent lower than the 287 454 units sold in the corresponding period in 2009.
However, motor trade figures released by Statistics SA this month showed that income from used vehicle sales totaled R21.99 million in the first five months of this year, compared with R23.6m in the corresponding period last year and R23.8m a year earlier.
Its reported that an estimated 250 used car dealers South Africa outlets had closed during the past 18 months.
It appears that Car Auctions sales have increased year-on-year off-the-floor retail sales by 65.3 percent to 6 983 motor vehicles. 
A substantial proportion of this increase is attributable to the increased number of Cars repossessed by banks, which it sold at knock-down prices during the year.
Car Dealers remain optimistic about the future prospects for the used car market because of the compelling value proposition in the sector, which emanated from a widening gap between new and used car prices.
The ratio of new to used cars sold was 0.67:1 in its past financial year compared to 1.43:1 at the market peak in 2006.
This dramatic change merely amplifies the pronounced swing from new to used cars, which occurred over the last two years due to affordability pressure on consumers,
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