Research by CAP found that only around 18 per cent of dealers expect to sell “significantly fewer” used cars this year compared with 2007.

Nearly a quarter of dealers said this year's retail used car market will be little different from last year.

Just over a third acknowledged there would be a reduction in sales but said they were not seriously concerned about their retail prospects.

Only 14 per cent described themselves as more confident at present than they were at this point a year ago.

Colin Whelan, business research manager for CAP Black Book, said: “The good news from this research is that dealers are ready to rise to the challenge and tailor their forecourt offering to consumer tastes rather than adopt a 'take it or leave it' approach.”