According to February's Startline Used Car Tracker, positive sentiment among motorists toward purchasing used cars has decreased from 59% to 48%. Concurrently, neutrality among potential buyers has increased from 34% to 43%. CEO Paul Burgess noted that this shift reflects a broader economic pessimism, with many shifting from a positive outlook to a neutral stance. Reasons for reluctance include satisfaction with current vehicles and financial concerns. Despite the decline in enthusiasm, a faction remains motivated by necessity rather than whim, calling for a practical approach to car buying amid mixed economic sentiments.
"There's a general feeling of negativity around the economy at the moment and this appears to be feeding through into used car buyer sentiment, with quite a substantial fall in confidence over the last six months."
"However, there is some nuance to this picture. Largely, people appear to be moving from feeling positive to neutral about the prospect of buying a car, rather than becoming negative. This is perhaps reflective of the wider economic mood - things aren't bad by most measures, they just don't necessarily feel good."
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