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Trouble restocking was the biggest barrier to the sector s recovery, said the Rental Vehicle Association (RVA).
Firms that slashed vehicle numbers last year, face growing wait times now. Availability of new vehicles for purchase by our industry has been significantly inhibited, the association vice president Kevin Walker said. That is probably what I would cite as the primary reason for the reduction. in purchases by our industry.
New car stocks countrywide are at a record low, with just a month s supply of popular models, and demand higher than before Covid. Households were now neck-and-neck with businesses buying new cars, when they normally made up just over a third of buyers, the Motor Industry Association said.