Each month CAP asks around 100 used car dealers about their trading conditions to gauge how well businesses have faired, availability of stock and sales performance.

Of the dealers surveyed by CAP in August, only 2.7% reported that they felt July used car sales were worse than the previous month.

Nearly half of the dealers (49.6%) surveyed felt that the current business climate was stable, with 41.6% stating it was either good (35.4%) or very good (6.2%).

Most of the dealers (77%) continue to report that their stock levels are too low, with 15.9% stating that they are about right.