The speed at which change occurs during an economic downturn can be startling to many and sadly the car business is no exception, with the rug being pulled from under many a motor trader’s feet during the last year or so. Whereas traditionally car dealers taking in left hand drive part exchanges would not have had a clue what they were worth, nowadays, with the weakness of Sterling against the Euro, buyers can see a strong market in buying left hand drive cars from the UK and shipping them abroad.
With the opening of borders and people from all over Europe now working in the UK there has been an influx of left hand drive vehicles which, ironically could now be worth a lot more money today than they ever have before.
Similarly in markets abroad, where road users drive on the right, such as Ireland, Cyprus and Japan, buyers are paying to ship their right hand drive vehicles back home. Believe it or not even when the shipping costs are calculated there is still a profit margin, due to the foreign exchange variables.
Of course there is every reason to believe that the situation will change again in due course and as the world climbs out of recession, the market will come back into line.
In the meantime if you have a car like a left hand drive beetle for example, being a car that could be ordered over here, it could be worth more than a right hand drive example.
Hard to believe? Well someone known to us bought one from a dealer recently as a trade-in and sold it the same day to a chap who had a villa abroad for quite a large profit. Funny old world isn’t it?