The UK used car market fell by -18.8% during the second quarter of this year with a total of 1,759,684 transactions.
Latest figures from the Society of Motor Manufacturers and Traders (SMMT) show 407,820 fewer used vehicles changed hands compared with the same period last year. With the easing of Covid restrictions in 2021 this produced the best ever second quarter results. If we look to pre-pandemic 2019 results, the second quarter is still -13.5% down.
It was inevitable that the squeeze on new car supply would filter through to the used market. Despite this, Britain’s used car buyers clearly have a growing appetite for the latest low and zero emission cars, and we need a thriving new car market to feed it. The next Prime Minister must create the conditions to drive consumer confidence, especially in EVs, and the fleet renewal necessary to meet our decarbonisation goals.
Said Mike Hawes, SMMT Chief Executive.
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