Glass’s warns November could be toughest month of 2010

Glass’s Guide has reduced used car values by 3 per cent in the November edition.

It said the overall availability of cars was less plentiful than last year but retail sentiment was uncertain.

“Retail prospects are less certain especially in the wake of the public spending review because nobody can anticipate to what degree this announcement will have on dampening the already modest retail demand,” said managing editor Adrian Rushmore.

“There is the impression that most dealers have hedged their bets by adopting a policy of removing any excess stock immediately, with the option to buy as and if the need arises,” he said.

“The current availability of used cars will allow them to dip in and out of the market over the coming weeks, but this means that more of the devaluation risk transfers to the auction vendors, manufacturers and rental companies,” he added.

Glass’s said November could be a tough month.

“The dilemma at this time of year is being able to predict the extent of price reductions in November, for what is potentially going to be the most challenging month of 2010.”