Confidence 'high' among car dealers

Confidence 'high' among car dealers

Used car dealers are feeling more confident about the state of the market, according to new figures.

CAP Automotive, a company which provides car cost information, found that in a survey of about 100 independent used car retailers, more than half said sales are increasing.

The dealers have found that the balance of supply and demand has also got better, according to the survey.

In recent months, dealers have encountered a shortage of high quality stock, meaning they were having to compete harder and pay a higher price for the best cars.

However, the new CAP figures show that only a minority of dealers are struggling to find suitable cars now, with the lowest figure recorded since summer 2013.

August last year saw the highest vote of confidence in market conditions since CAP began measuring feeling among dealers, but that level of optimism has now been reached again.

Copyright Press Association 2014