Used cars sales collapse
Updated on 17 December 2008
Ben King reports on how the second hand car market is suffering. A glut of vehicles in showrooms means prices have been slashed.
The car industry is in dire straits, sales of new vehicles fell by a colossal 37 per cent last month. But the crisis has also fed through to used cars as well.
Fears about taxes, fuel prices and falling consumer demand have seen prices slump.
That's good news if you're a cash buyer for a new car, but the collapse of the used car market is making life harder for the new car market.