The UK used car market grew by 4.1% in the first quarter of 2023. This is the first positive quarter after three successive quarter declines.
Figures from the Society of Motor Manufacturers and Traders (SMMT) show that 1,847,149 transactions took place. Black was the most popular used car colour and the Ford Fiesta tops the charts with nearly 80,500 transactions in the first quarter of this year.
Easing supply chain challenges have reenergised new car registrations, unlocking availability in the used market and, importantly, delivering more zero emission capable vehicles to second and third owners. Sustaining that growth is vital for our environmental goals, which means bolstering the new car market to drive supply to the used sector. Infrastructure rollout must also improve – and at speed – with affordable and reliable charging essential if more used buyers are to switch to the latest and cleanest available vehicles.
Said Mike Hawes, SMMT Chief Executive.
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