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Gloucestershire Business News

Used car sales fall

Used car sales fell by 6.2 per cent in the third quarter, new figures show.

The second-hand car market is still up 16.4 per cent year-to-date but that is down 4 per cent on the same period before Covid.

But demand for used battery electric (BEV) and plug-in hybrid (PHEV) vehicles continued to grow in Q3, according to the latest figures released today by the Society of Motor Manufacturers and Traders (SMMT).

Reflecting recent trends in both the new and used markets, transactions for these vehicles rose by 56.4% and 43.3% to 14,182 and 14,990 respectively.

Indeed, the number of used BEVs that changed hands during the period was the highest recorded in any quarter. Hybrid electric vehicle (HEV) transactions also increased by 20.3% to 40,157.

But overall, the UK's used car market fell by 6.2 per cent in the third quarter of 2021. 2,034,342 vehicles changed hands, 134,257 less than in Q3 2020 when the re-opening of showrooms and easing of lockdown measures saw the market bounce back strongly.

Used car transactions declined in every month across the quarter, with July, August and September all falling, by 4.9 per cent, 5.9 per cent and 7.9 per cent respectively. Overall, the period is down 2 per cent on 2019 pre-Covid, making it the weakest quarter three since 2015.

Mike Hawes, SMMT chief executive, said: "Despite the used car market declining in the third quarter, record sales earlier in the year, particularly in the second quarter, means the market remains up year to date.

"Given the circumstances, with the global pandemic causing a shortage of semiconductors needed to produce new vehicles, undermining the new car market, used transactions were always going to suffer too. This is particularly worrying as fleet renewal - of both new and used - is essential if we are to address air quality and carbon emissions concerns."

The South East saw the most transactions with 292,049, the South West had 189,537 and Wales 107,315.

The most popular models were Ford Fiesta, Vauxhall Corsa and Volkswagen Golf. The most popular colour was black.

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