That’s despite the annual rate of inflation slowing to 10.7% in Quarter 2 of this year, down from an annual rate of 26.6% in Q2 of last year.
THE USED CAR market has experienced “unprecedented price inflation”, with prices 79% more expensive than pre-pandemic levels.
“This was coupled with a 7.7% increase in the stock of used cars on DoneDeal and hence had a stabilising effect on prices,” added Gillespie. ‘Growing market’ The DoneDeal report for Q3 of 2023 also found that the market for new cars and electric vehicles is growing.
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