Glass's Car Editor Rob Donaldson has joined the BVRLA Blogging community to share his insights on used car values during the 2008/9 recession and what might happen during a post-pandemic recession.
In his blog Rob comments; “Moving forward to today, although there is no doubt that the UK will experience another recession, the dynamics in the car market are different. This time, there has been a very quick and almost complete shutdown of the market for both new and used cars, with just seasonal variations in values taking place.”
“With the current data, and assessing data from the Global Financial Crisis, the UK market has the potential to come back strongly and relatively quickly. As an island that drives on the left, there will be specific supply constraints for the UK which will continue to affect the availability of new cars.”
Rob goes on to explore the perfect storm of Coronavirus and Bexit and next steps for the industry.
Read Rob’s blog in full on the BVRLA website: Recesssion values, will lightning strike twice?
