Used car industry 'is faring well'
Grey fleet organisations looking to cut costs as the credit crunch continues to bite could do with following general motorist trends of opting for used cars.
According to new figures from the Finance and Leasing Association (FLA), purchases of new cars were down 27 per cent in March compared with the same period in 2008.
This suggests that the used market is proving to be a more attractive option to the car buying public and as such could prove to be a fruitful one for commercial companies.
FLA head of research and chief economist Geraldine Kilkelly commented: "The used car market is faring better than the new car market. This is a great time for consumers to buy a used car … [they] are cheaper than a year ago."
This comes after the Society of Motor Manufacturers and Traders recently claimed that sales in the new commercial vehicle market are likely to suffer this year owing to the fact that confidence in the industry is remaining subdued. 
