The price of vehicles for the same period last year increased by almost 30 per cent, reaching a new high of £20,000 plus, according to Auto Trader figures.
This misery can be traced to the global chip shortage. The production lines for making new cars can’t run long enough for the manufacturers to procure enough chips. The price of used cars has become stupid as a result of this trickledown effect.
Car prices are rising for what reason?
Since new car supply continues to push up used car prices, it is unlikely that used car prices will drop significantly until at least a year from now. Higher prices on parts due to shipping and transport shortages across UK is another reason that used cars are keeping a good value and continue to rise.
UK people have found an alternative
Left hand drives PLC company were quick to counter on this trend and with the markets rising year by year they could see the trend setting over 10 years ago. It was then they decided to go with Left hand drive cars in the UK and started to buy out many lhd cars from western Europe and started shipping to the United Kingdom. When the pandemic hit in early 2019, Left hand drives PLC were already a front runner in the lhd car industry, buying and selling all left-hand drive cars in the UK and Europe. 5% of drivers in Greater London now drive lhd cars which hold their value quite well.
SOURCE:
LHD Car Buyers
Address: Office 1, 109 Asheridge Rd, Chesham HP5 2PZ
Phone: 07398459523
