Its our birthday!!

The Internet Car Lot turns two years old on the 1st of September and we have certainly learnt a lot in that time!

We started the business as the economic climate was really starting to degenerate and up until November last year we were operating in a market where the supply of cars was much higher than the retail demand. This meant that we could only stock a car for a very limited time before all the profit was lost through natural depreciation.

Ever since November the complete reverse has occured where the supply of good cars for retail has been limited and demand has outstripped that dwindling supply. This is why the value of used cars have increased by significant amounts compared to this time last year. Whilst this market is better for the trade and retail customers alike, it means that finding cars at a level which is still attractive for the customer yet retaining a profit for us has been very challenging.

Manufacturers have not been pre-registering cars in any number and the fleet operators have been extending leases as opposed to writing new business so it is no surprise that the new car market volume is so much less than the previous years. This then naturally affects us as a used car business as we have a lot less cars to coming through the system.

We are very excited about the propects for the next financial year as the economy looks more stable (although still not as bouyant as some political figures would suggest) and the car market looks to have weathered a very severe storm!

Jamie