The Office of Fair Trading has announced it will be carrying out a market study into the sale of used cars. This study will run for the remainder of 2009 and will look to identify specific problems that exist within the used car sales sector and how these cause detriment to consumers. Following this period of evidence gathering OFT will make recommendations regarding any corrective action required.
http://www.oft.gov.uk/news/press/2009/51-09
An interesting development and one which the Motor Codes team will be following closely and contributing to over the coming months.
With the government and regulators favouring sector specific self regulation to set and maintain minimum standards of operation, we'll be keen to discuss what the OFT are looking to achieve and indeed what they feel are the key areas of concern.
I'll update further once we've had the opportunity to find out more.
All the best
Chris
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