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Fall in used car prices may be welcomed by cash-strapped ladies
Cash-strapped women drivers may find they can get a good deal on used cars at the moment, if new figures are anything to go by.
Manheim Auctions has revealed average wholesale prices for second-hand motors dropped by 21 per cent over the last 12 months.
The group reported typical values peaked at £7,235 in February before falling £1,515 by the end of 2008.
However, Mike Pilkington, managing director at Manheim said this did not necessarily mean dealers would reduce the number of used cars on offer.
"Dealers clearly recognise how important income from used car retailing is ... and a survey we conducted last month indicated that many are actually stepping up used car activity," he stated
Mr Pilkington added it was likely prices of second-hand motors would remain low for some time to come.
Last month Manheim reported two-thirds of used car dealers had experienced a drop in sales in 2008.
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