Car search website motors.co.uk is reporting that there has been a dramatic upturn in European traffic looking at UK-based used cars on its site, in the run-up to the proposed Brexit date.
The company reports that UK visitor numbers are also up by 29 percent versus last year. Perhaps it’s a reflection of the health of the business rather than being Brexit-related? Not quite, given that there’s evidence of a market upturn in European searches, particularly from the right-hand-drive markets of Cyprus and Ireland.
Search numbers from Cyprus and Ireland were up a respective 125 and 58 percent between November of last year and January 14. That’s an incredible jump. Left-hand-drive countries have also been snooping, with a year-on-year increase in traffic of 48, 77 and 32 percent respectively for France, Spain and Germany.
Does this represent a small opportunity for secondhand dealers? Those willing to assist with export could stand to take a nice cut from what could be a burgeoning – albeit temporary – market.
With just ten weeks to go until we’re supposed to be leaving the EU, uncertainty is rife in all industries, among citizens and politicians alike. A piqued interest from European buyers in the UK second-hand car market is a curious thing indeed.
“With the government losing yesterday’s crunch vote on Brexit and the continued weakening of the pound against the euro, some European buyers are taking advantage of the uncertainty caused by Brexit by searching the UK’s dealer stock for possible bargains,” said Dermot Kelleher, Motors.co.uk’s director of marketing and business intelligence.
“While we don’t expect a major uplift in sales of used cars to European customers, dealers willing and able to export should be prepared for enquires, especially from Ireland and Cyprus.”
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