USED car sales continue to outpace new car volumes amid increased economic uncertainty, the owner of the Evans Halshaw and Stratstone car dealerships said.
Nottingham-based Pendragon said used car volumes rose by 18% in the three months to September 30, while new car sales fell at Stratstone and Evans Halshaw by 10.3% and 10.8% respectively.
But the company, which has 300 outlets in the UK, said used car profit margins were squeezed in July and August and were down compared to the same period last year as it cut prices.
Pendragon saw total turnover drop by 2% in the period.
