A significant drop in used-car prices has been blamed after car dealer Caffyns reported a £1.5 million loss in its latest set of financial figures. The dealership, which has a number of outlets in Ashford and Tunbridge Wells, as well as Sussex, was among many in the trade hit by an estimated 10% drop in used-car prices nationwide – fuelled by an influx of second-hand vehicles into the market. Caffyns’ sales in used motors continue to increase – up 2% over the 12 months – but their margins were squeezed by the price adjustments. Despite seeing turnover rise by a healthy 4% in the year ending Ma…
