UK used car market sees increased interest from European buyers
With just 10 weeks to go until Brexit, UK used car dealer stock is increasingly being searched by buyers in European countries, according to the latest data from Motors.co.uk.
Although visitor numbers from UK buyers are themselves up 29% year-on-year, and still account for 92% of visitors to Motors.co.uk, the data shows a notable rise in searches from European buyers.
Europe’s two other right-hand drive markets led the increase with searches from Cyprus rising by 125% and Ireland up 58% between 1 November 2018 and 14 January 2019.
Motors.co.uk also found year-on-year increases in searches from France (48%), Spain (77%) and Germany (32%).
Dermot Kelleher, Motors.co.uk’s director of marketing and business intelligence, said: “With the Government losing yesterday’s crunch vote on Brexit and the continued weakening of the pound against the euro, some European buyers are taking advantage of the uncertainty caused by Brexit by searching the UK’s dealer stock for possible bargains.
“While we don’t expect a major uplift in sales of used cars to European customers, dealers willing and able to export should be prepared for enquiries, especially from Ireland and Cyprus.
Source: AM Online