The Car Hub

Another blow to the poor UK motorist comes today with the news that there has been an ”unprecedented rise” in second hand car values this year.

Late last year second hand prices were at a low level but since early this year there has been a steady month-by- month rise which has pushed prices up by as much as 30%.

Two main factors are to blame, the governments scrappage scheme has taken many thousands of cars out of the market and the economic situation which caused many car producers to close their factories for months. The result is there are now a lot fewer 2nd. hand cars coming to the market to replace those scrapped causing a similar situation as in the housing market where first time buyers cannot enter the market because of high prices and lack of product. There have bPictureen many reported cases of garages offering to buy back 1 and 2 year old cars sold to customers for the original price paid for them, this allowing the customer to update his/her car and the garage to replenish stock.

Motoring experts are hoping there may be a “balancing-out” of prices possibly later this year which could tie in with the closure of the scrappage scheme when the allocated money runs out.

Earlier this week there was another increase in petrol prices at the pumps taking the litre prices to 107-110p average dependant on area. Why are we motorists so like lambs with regards to this issue? Why do we not make a HUGE noise about the cost per litre now as the price of a barrel of crude is “only” $70, which is only half the peak of $140 per barrel when the pump price was around 120p per litre.

If we are going to continue like lambs quietly accepting these absurd prices then we are going to be continually rolled over by both the government and the petrol companies. Isn’t it about time we copied France and took some proper actions that will jolt these people who are lording it over us?

Bill Williams