GLASS'S Information Services reckons buyers will become increasingly scarce in the used car market this year, with the bonus of knock-on price cuts.

While second-hand car sales showed growth of around five per cent in 2002, Glass's believes the second-hand market will struggle to maintain this momentum in 2003.

Adrian Rushmore, managing editor at Glass's, the leading motor market information provider, says: "Given that 2002 was a record-breaking year for new car sales, and used car business also flourished, it is somewhat surprising that values for one-year-old models were down seven per cent, and two and three-year-old models were down four per cent.

"Much of this was due to the aggressive and successful marketing of new cars that had the effect of switching customers to new," suggests Rushmore. "On the face of it, two record-breaking years of new car sales could have dangerous ramifications for the supply of used cars, with unwanted models flooding the market and hitting values.

"However, given that something like 60 per cent of cars bought each year remain with their first owners for between 37 and 48 months, most of the new cars sold in 2002 will not arrive on used forecourts until next year and beyond," he adds.

"We would not be surprised to see a repeat of the used car price falls witnessed last year."