Fleet News

Fast turnovers

FAST cycle business accounts for more than a quarter of new car sales, according to statistics from information provider HPI.

It researched the period of ownership of 12.7 million vehicles registered since 1991 and found only 20% of new and used car sales stay with the same owner for two to three years, and 50% for more than three years. The remainder change hands within less than a year, including 12% whose ownership period is less than six months. Sales director Annette Mansfield said: 'The figures reflect the fact that quality 'one previous owner' cars form the bedrock of many profitable used car retailing operations.'

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