Good and bad news coming out of British Car Auctions (BCA) today, as the auction house has revealed that demand for used fuel efficient cars is higher than ever, as motorists look to switch to more fuel efficient and environmentally friendlier cars. Sadly, the supply of these cars cannot currently keep up with the demand, and as a result the prices are being pushed up.
“The demand is there, but supply is a major issue for anyone wanting to buy the most fuel efficient used vehicles.” explained Tim Naylor of BCA. “As fuel prices continue to climb, we expect used values for the most fuel-efficient cars to keep rising as well.”
The relentless price pressure that motorists are experiencing may well bring about a change in attitudes to ‘eco-cars’ according to Naylor. “Only a very small proportion of motorists we surveyed last year for our Used Car Market Report believed that they would be looking at eco options for their next car”, he said.
“Just 3% said they would buy an electric-hybrid (1% used, 1% nearly-new, 1% new) – a figure that had actually fallen by a point for two years running. But the sharp increase in fuel prices over recent months could convince motorists of the benefits of a higher MPG and lower CO2 emissions in the long run.” he concluded.
