Values of second hand cars plummet 21% in 2008
Manheim Auctions has reported that the average wholesale values of used cars have plummeted by 21% during 2008.
Mike Pilkington, Managing Director of Manheim Auctions said ” We all know how tough 2008 has been, particularly in the second half, but we continue to sell cars in a market where there is still reasonable demand. This is good news for the market overall but we must recognise that prices are likely to remain at the current low levels for some time to come”.
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