A RESEARCH report from independent automotive analyst MFBI reveals that used car superstores accounted for seven per cent of all used car sales in 2001 and that superstores are gaining market share from franchised dealers.
Back in 1992 there were no used car superstores anywhere in Britain and franchised dealers had a market share of 35 per cent of all used car sales.
Since then, as the number of used car superstores has grown to reach 90 outlets in 2002, their market share has increased while franchised dealers' has fallen to 25 per cent.
Used car superstores sold 485,000 used cars in 2001 giving an average sales volume of nearly 5,400 units per outlet, compared with an average of just 290 sales per outlet for franchised dealers in 2001.
Used car sales this year are expected to rise by five per cent to 7.28 million units, buoyed by low interest rates and low cost credit finance.
Over the next five years, MFBI forecasts that used car sales will fall slightly to 7.10 million units by 2007, as interest rates rise and consumer disposable incomes are reduced.
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