UK Used Car Market Up 0.9% In Q3
According to SMMT, the UK’s used car market increased by 0.9% in Q3. There were 2,076,382 transactions taken place between July and September.
- Demand for diesel was up 1.4%
- Petrol sales declined 0.2%.
- Plug-in electric and hybrid models increased 13%.
The most popular segment was superminis, accounting for 33% of transactions. Lower medium and upper medium segments were next with 27% and 11.7% shares respectively. The dual purpose segment had the largest percentage growth with 11.6% market share.
Black was the number one colour of used car buyers, followed by silver/aluminum and blue.
Mike Hawes, SMMT Chief Executive, said, “This growth, following a prolonged period of decline, is encouraging and it’s great to see a growing appetite for plug-in and hybrid models as they start to filter down to the used market. However, ongoing economic uncertainty and growing confusion over local clean air zones make it difficult to predict the future. To make meaningful environmental gains, we need to get more of the latest, lowest emitting cars on to our roads replacing older ones quickly – and that means delivering the right conditions and policies to give new and used buyers confidence to invest in the vehicles that best suit their driving needs and budgets.”
For more information, head over to SMMT.